“Our view, we warn you, is non-conventional. But we would rather have earnings for which we did not get accounting credit put to good use in a 10% owned company by a management we did not personally hire, than have earnings for which we did get credit put into projects of more dubious potential by another management—even if we are that management.”

in Investing, Warren E. Buffett, Writers

-Warren E. Buffett, 1980 Chairman’s Letter to the Shareholders of Berkshire Hathaway, Inc.

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