1998-Morning Session-BRK Annual Shareholders Meeting
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
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The Rise in Returns on Equity and Untangible Assets
Businesses can't earn 20% on equity if they retain most of their earnings, he says. "This has been a better world than we foresaw in terms of returns" He adds: 'We would not want to buy things on the basis that these returns would be sustained'
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