Warren Buffett
Chairman and chief executive of Berkshire Hathaway, 1970–2025
Charlie and I decided long ago that in an investment lifetime it's just 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'll now settle for one good idea a year. (Charlie says it's my turn.)
Recorded
His letter to Berkshire Hathaway shareholders in the 1993 annual report, Berkshire Hathaway Inc., February 1994
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