1997-Afternoon Session-BRK Annual Shareholders Meeting
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
00:00
The Importance of Understanding Your Business
The more volatile a business is, the larger the margin of safety. The biggest thing to do is understand the business and get into the kind of businesses where surprises are few. Mr. Buffett: "Most of our mistakes have been mistakes of omission rather than commission"
Transcript
Play full episode
