A Quote by Walter Schloss
By setting up Berkshire Hathaway, Warren has done everything very rationally.
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Size will hurt returns. Look at Berkshire Hathaway - the last five things Warren has done have generated returns that are splendid by historical standards, but now give him $100 billion in assets and measure outcomes across all of it, it doesn't look so good. We can only buy big positions, and the only time we can get big positions is during a horrible period of decline or stasis. That really doesn't happen very often.
The very first stock I bought right out of college was Berkshire Hathaway.
Wesco had a market capitalization of $40 million when we bought it [in the early 1970s]. It's $2 billion now. It's been a long slog to a perfectly respectable outcome - not as good as Berkshire Hathaway or Microsoft, but there's always someone in life who's done better.
At Berkshire Hathaway we do not like to compete against Chinese manufacturers.
I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics than bad.
I'm a bull on Berkshire Hathaway. There may be some considerable waiting, but I think there are some good days ahead.
Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway.
We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value.
Nirvana, to a value investor, is paying a cheap price for a company that is growing in value every year at a nice rate - this largely explains why today we own stocks like Berkshire Hathaway, McDonald's, Wal-Mart, Microsoft, Costco and Anheuser-Busch.
The public/private partnerships are taking various forms in India. It is individuals who are socially oriented are setting up schools. They're setting up colleges. They're setting up universities. They're setting up primary-education schools in the villages, particularly the villages their original families came from.
I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?
Maybe Rock and Elizabeth Warren could team up and shore up each other's weaknesses. Elizabeth Warren has a plan for everything and all the experience, and The Rock could sell it to the people, 'cause the people could smell what Rock is cooking.
Yes, Warren has done very well.
We don't have an isolated group [of senior managers] surrounded by servants. Berkshire's headquarters is a tiny little suite. We just came back from Berkshire's board meeting; it had moved up to the board room of the Kiewit company and [it was so large and luxurious that] I felt uncomfortable.
Every business tries to turn this year's success into next year's greater success. It's hard for me to see why Microsoft is sinful to do this. If it's a sin, then I hope all of Berkshire Hathaway's subsidiaries are sinners. Someone whose salary is paid by U.S.taxpayers is happy to dramatically weaken the one place where we're winning big?!
I’d say that Berkshire Hathaway’s system is adapting to the nature of the investment problem as it really is. We’ve really made the money out of high quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But when you analyze what happened, the big money’s been made in the high quality businesses. And most of the other people who’ve made a lot of money have done so in high quality businesses.
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