Time for a bit of humor
Jan 22nd, 2007 by Martin Lee
Whenever you read annual reports, chances are that most of the CEO’s message will be done in a serious tone.
Seldom will you find a CEO who jokes in his message. Despite the size of the Berkshire empire, Warren Buffett never fails to inject some humour in his letters. Here’s one from his 1992 report:
Leaving aside splits, the number of shares we held in these companies changed during 1992 in only four cases: We added moderately to our holdings in Guinness and Wells Fargo, we more than doubled our position in Freddie Mac, and we established a new holding in General Dynamics. We like to buy.
Selling, however, is a different story. There, our pace of activity resembles that forced upon a traveler who found himself stuck in tiny Podunk’s only hotel. With no T.V. in his room, he faced an evening of boredom. But his spirits soared when he spied a book on the night table entitled “Things to do in Podunk.” Opening it, he found just a single sentence: “You’re doing it.”
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