バークシャーハサウェイ株主への手紙

2024/01/31の名言

2024/01/31の名言は、 At Berkshire we told you of our own problems with underestimation in 1984 and 1986. Generally, however, our reserving has been conservative. - 2001年 バークシャーハサウェイ株主への手紙より

2024/01/31 11:01

2024/01/30の名言

2024/01/30の名言は、 Dave Sokol and Greg Abel are going to run any businesses with which they are associated in a first-class manner. They don’t know of any other way to operate. - 2008年 バークシャーハサウェイ株主への手紙より

2024/01/30 11:00

2024/01/29の名言

2024/01/29の名言は、 When there is a huge and unusual risk to be insured, Ajit is almost certain to be called. - 2008年 バークシャーハサウェイ株主への手紙より

2024/01/29 11:01

2024/01/28の名言

2024/01/28の名言は、 Charlie Munger, Berkshire's Vice Chairman and my partner, and I make few predictions. One we will confidently offer, however, is that the future performance of Berkshire won't come close to matching the performance of the past. - 1994年 バークシャーハサウェイ株主への手紙より

2024/01/28 11:30

2024/01/27の名言

2024/01/27の名言は、 True, each committee is required by the SEC to state its reasoning about pay in the proxy. But the words are usually boilerplate written by the company’s lawyers or its human-relations department. - 2002年 バークシャーハサウェイ株主への手紙より

2024/01/27 11:30

2024/01/26の名言

2024/01/26の名言は、 Knowing they are forever going to be buyers of food, they welcome falling prices and deplore price increases. (It's the seller of food who doesn't like declining prices.) - 1990年 バークシャーハサウェイ株主への手紙より

2024/01/26 11:00

2024/01/25の名言

2024/01/25の名言は、 We are willing to look foolish as long as we don't feel we have acted foolishly. - 1989年 バークシャーハサウェイ株主への手紙より

2024/01/25 11:01

2024/01/24の名言

2024/01/24の名言は、 In the past, we've criticized the managerial practice of shooting the arrow of performance and then painting the target, centering it on whatever point the arrow happened to hit. We will instead risk embarrassment by painting first and shooting later. - 1993年 バークシャーハサウェイ株主への手紙より

2024/01/24 11:25

2024/01/23の名言

2024/01/23の名言は、 Still, I believe that the behavior of managements has been even worse when it comes to restructurings and merger accounting. Here, many managements purposefully work at manipulating numbers and deceiving investors. And, as Michael Kinsley has said about Washington: “The scandal isn’t in what’s done that’s illegal but rather in what’s legal.” - 1998年 バークシャーハ…

2024/01/23 11:32

2024/01/22の名言

2024/01/22の名言は、 Some years back, a good $10 million idea could do wonders for us (witness our investment in Washington Post in 1973 or GEICO in 1976). - 2001年 バークシャーハサウェイ株主への手紙より

2024/01/22 11:01

2024/01/21の名言

2024/01/21の名言は、 The type of fallacy involved in projecting loss experience from a universe of non-insured bonds onto a deceptively-similar universe in which many bonds are insured pops up in other areas of finance. - 2008年 バークシャーハサウェイ株主への手紙より

2024/01/21 11:01

2024/01/20の名言

2024/01/20の名言は、 The price and availability of businesses and the need for insurance capital determine any given year’s capital allocation. - 1983年 バークシャーハサウェイ株主への手紙より

2024/01/20 11:27

2024/01/19の名言

2024/01/19の名言は、 Of course, we ourselves will periodically have a terrible year in insurance. But, overall, I expect us to average an underwriting profit. - 2008年 バークシャーハサウェイ株主への手紙より

2024/01/19 11:01

2024/01/18の名言

2024/01/18の名言は、 Our gain in net worth during 2007 was $12.3 billion, which increased the per-share book value of both our Class A and Class B stock by 11%. Over the last 43 years (that is, since present management took over) book value has grown from $19 to $78,008, a rate of 21.1% compounded annually. - 2007年 バークシャーハサウェイ株主への手紙より

2024/01/18 11:01

2024/01/17の名言

2024/01/17の名言は、 You can’t be all things to all men, simultaneously seeking different owners whose primary interests run from high current yield to long-term capital growth to stock market pyrotechnics, etc. - 1979年 バークシャーハサウェイ株主への手紙より

2024/01/17 11:16

2024/01/16の名言

2024/01/16の名言は、 Unlike most businesses, Berkshire did not finance because of any specific immediate needs. - 1980年 バークシャーハサウェイ株主への手紙より

2024/01/16 11:01

2024/01/15の名言

2024/01/15の名言は、 GEICO was a fine insurance company when Tony Nicely took over as CEO in 1992. Now it is a great one. - 2003年 バークシャーハサウェイ株主への手紙より

2024/01/15 11:31

2024/01/14の名言

2024/01/14の名言は、 Our long-avowed goal is to be the “buyer of choice” for businesses – particularly those built and owned by families. - 2008年 バークシャーハサウェイ株主への手紙より

2024/01/14 11:01

2024/01/13の名言

2024/01/13の名言は、 The job of CEOs is now to regain America’s trust – and for the country’s sake it’s important that they do so. - 2002年 バークシャーハサウェイ株主への手紙より

2024/01/13 11:01

2024/01/12の名言

2024/01/12の名言は、 Our approach makes an active trading market useful, since it periodically presents us with mouth-watering opportunities. - 1987年 バークシャーハサウェイ株主への手紙より

2024/01/12 11:01

2024/01/11の名言

2024/01/11の名言は、 Though no single figure can be perfect, we believe that the look-through number more accurately portrays the earnings of Berkshire than does the GAAP number. - 1992年 バークシャーハサウェイ株主への手紙より

2024/01/11 11:01

2024/01/10の名言

2024/01/10の名言は、 No other insurer we know of - even those with much larger gross assets - has our financial strength. - 1983年 バークシャーハサウェイ株主への手紙より

2024/01/10 11:01

2024/01/09の名言

2024/01/09の名言は、 I’m sure I could have saved you $100 million or so, pre-tax, if I had acted more promptly to shut down Gen Re Securities. - 2003年 バークシャーハサウェイ株主への手紙より

2024/01/09 11:18

2024/01/08の名言

2024/01/08の名言は、 We believe that $16.9 billion is a record for a one-year gain in net worth – more than has ever been booked by any American business, leaving aside boosts that have occurred because of mergers (e.g., AOL’s purchase of Time Warner). - 2006年 バークシャーハサウェイ株主への手紙より

2024/01/08 11:01

2024/01/07の名言

2024/01/07の名言は、 Airlines were then protected from competition by regulation, and carriers could absorb high costs because they could pass them along by way of fares that were also high. - 1994年 バークシャーハサウェイ株主への手紙より

2024/01/07 11:01

2024/01/06の名言

2024/01/06の名言は、 when a company is selling a product with commodity-like economic characteristics, being the low-cost producer is all-important. - 2000年 バークシャーハサウェイ株主への手紙より

2024/01/06 11:01

2024/01/05の名言

2024/01/05の名言は、 Long ago, Mark Twain said: “A man who tries to carry a cat home by its tail will learn a lesson that can be learned in no other way.” - 2005年 バークシャーハサウェイ株主への手紙より

2024/01/05 11:28

2024/01/04の名言

2024/01/04の名言は、 If shares of a prospective acquirer are selling below their intrinsic value, it’s impossible for that buyer to make a sensible deal in an all-stock deal. - 2009年 バークシャーハサウェイ株主への手紙より

2024/01/04 11:01

2024/01/03の名言

2024/01/03の名言は、 Our approach, rather, has been to follow Wayne Gretzky's advice: "Go to where the puck is going to be, not to where it is." As a result, our shareholders are now many billions of dollars richer than they would have been if we had used the standard catechism. - 1994年 バークシャーハサウェイ株主への手紙より

2024/01/03 11:00

2024/01/02の名言

2024/01/02の名言は、 A tolerance for short-term swings improves our long-term prospects. - 1992年 バークシャーハサウェイ株主への手紙より

2024/01/02 11:24

2024/01/01の名言

2024/01/01の名言は、 though we have lagged the S&P in some years that were positive for the market, we have consistently done better than the S&P in the eleven years during which it delivered negative results. - 2009年 バークシャーハサウェイ株主への手紙より

2024/01/01 11:01