The Good Thing Is, We Have Household

I Have This Complicated Procedure I Go Through Every Morning, Which Is To Look In The Mirror And Decide What I'm Going To Do. And I Feel At That Point, Everybody's Had Their Say.

Charlie And I Decided Long Ago That In An Investment Lifetime, It's Too Hard To Make Hundreds Of Smart Decisions. That Judgment Became Ever More Compelling As Berkshire's Capital Mushroomed And The Universe Of Investments That Could Significantly Affect Our Results Shrank Dramatically. Therefore, We Adopted A Strategy That Required Our Being Smart And Not Too Smart At That, Only A Very Few Times. Indeed, We Now Settle For One Good Idea A Year.

You Get What I Call The Natural Progression, The Three Is. The Innovators, The Imitators, And The Idiots.

The Financial Calculus That Charlie And I Employ Would Never Permit Our Trading A Good Night's Sleep For A Shot At A Few Extra Percentage Points Of Return. I've Never Believed In Risking What My Friends And Family Have And Need In Order To Pursue What They Don't Have And Don't Need.

Look For Companies With High Profit Margins.