Sublime

In line with this owner-orientation, our directors are all major shareholders of Berkshire Hathaway. In the case of at least four of the five, over 50% of family net worth is represented by holdings of Berkshire. We eat our own cooking.

We want the business to be (1) one that we can understand, (2) with favorable long-term prospects, (3) operated by honest and competent people, and (4) available at a very attractive price. We ordinarily make no attempt to buy equities for anticipated favorable stock price behavior in the short term. In fact, if their business experience continues

infinitely. Warren Buffet was worth $124 billion in 2022. Average Joe (or, in this case, “Median” Joe) is worth about $122,000. And Average Joe is slowing down; Buffet is accelerating. That’s the issue we are concerned with. But is it unfair?