I've been re-reading Berkshire's annual reports in chronological order, and it's so interesting to see Buffett gloat about how great businesses like the Buffalo News and World Book were. On the flip side, looking at Berkshire's performance, it's proof you have ample time to pivot in investing.
Great point, it takes longer than people expect for the obvious to unfold! It's interesting to see just how much Berkshire has changed since those early days, at one point world book and the Buffalo News were responsible for more than 10% of operating earnings.
I've been re-reading Berkshire's annual reports in chronological order, and it's so interesting to see Buffett gloat about how great businesses like the Buffalo News and World Book were. On the flip side, looking at Berkshire's performance, it's proof you have ample time to pivot in investing.
Great point, it takes longer than people expect for the obvious to unfold! It's interesting to see just how much Berkshire has changed since those early days, at one point world book and the Buffalo News were responsible for more than 10% of operating earnings.
Great article, only the paranoid survive. This one’s definitely in the too hard for me pile.