What We Do
Our goal at
Berkshire is simple: We want to own either all or a portion of businesses that
enjoy good economics that are fundamental and enduring. Within capitalism, some
businesses will flourish for a very long time while others will prove to be
sinkholes. It's harder than you would think to predict which will be the
winners and losers. And those who tell you they know the answer are usually
either self-delusional or snake-oil salesmen.
At
Berkshire, we particularly favor the rare enterprise that can deploy additional capital at high returns in the future.
Owning only one of these companies - and simply sitting tight - can deliver
wealth almost beyond measure. Even heirs to such a holding can - ugh! -
sometimes live a lifetime of leisure.
We also
hope these favored businesses are run by able and trustworthy managers, though
that is a more difficult judgment to make, however, and Berkshire has had its
share of disappointments.
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