HARDCOVER Berkshire Hathaway Letters to Shareholders 1965-2014 Warren Buffett

“We like a business with enduring competitive advantages that is run by able and owner-oriented people. Inherently, the risk that the investor runs is that by forgoing consumption now, he may not have the ability to consume more later. Rather, Buffett feels that real risk is not volatility, but the potential that after-tax receipts from […]