
The Essays of Warren Buffet
Mindware
Investing in Productive Assets
In the future, people will forever exchange what they produce, or whether it's produced. Our country's businesses will continue to efficiently deliver goods and services wanted by our own citizens. We expect every commitment to work out well because we concentrate on conservatively financed businesses with competitive strengths run by able and honest people. If we buy into these companies, sensible prices, losses should be rare. The banking business is a common mistake that can destroy only a small portion of your assets. When assets are 20 times equity ratio in this industry, no one would favor ours as far as I'm concerned.
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