This from the Berkshire Hathaway 2005 AR,

"Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac's talents didn't extend to investing: He lost a bundle in the South Sea Bubble, explaining later, 'I can calculate the movement of the stars, but not the madness of men.' If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases."


After reading Tilson's latest daily and ref to this FT comment,

https://assets.empirefinancialresearch.com/uploads...

it reminded me of the Helpers & "The Gotrocks Parable" that Warren Buffett wrote about in the 2005 Annual report, (pp 18 & 19)

https://www.berkshirehathaway.com/2005ar/2005ar.pd...

This message to shareholders was later rewritten by John C Bogle from an Index Fund standpoint,

https://johncbogle.com/wordpress/wp-content/upload...

ciao

Berkshire Hathaway FAQ

---

Contact Shrewd'm
Contact the developer of these message boards.