BERKSHIRE HATHAWAY INC.
刚入职的时候公司一号交易员(head of trading)问我今天为什么股市跌了。
我:因为CPI高于预期。
她:that is a stupid answer. Forget about all of that bullshit and relearn everything. Welcome to the buy side.
从那一天开始,我对“为什么涨跌”这个问题就不再感兴趣了。因为its stupid
Insurance companies offer standardized policies which can be copied by anyone. Their only products are promises. It is not difficult to be licensed, and rates are an open book. There are no important advantages from trademarks, patents, location, corporate longevity, raw material sources, etc., and very little consumer differentiation to produce in
... See moreWarren Buffett • Berkshire Hathaway Letters to Shareholders, 2018

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