Do not take yearly results too seriously. Instead, focus on four or five-year averages.
Warren BuffettI mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?
Warren BuffettIntrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life.
Warren Buffett