“Buffett’s key to success begins by having cash when others don’t. Then he waits. Once the stock market is crashing and offering up excellent businesses at bargain prices, he is in there buying. Next he holds on to the really great businesses as the market moves up, selling off the average businesses and letting the cash start to pile up. Finally, as the market starts to move onto high ground, he lets the excess income from dividends and stock sales pile up in his cash account -- keeping only the companies with a durable competitive advantage that will help make him superrich over the long term. (Warren lets the cash income from all of Berkshire’s businesses build up. Individual investors would let earned excess income accumulate in their money market account. ) Warren has repeated this cycle over and over and over again to the point that he has an enormous portfolio of some of the finest businesses that have ever existed, and in the process, he has become the third richest person in the world." — Mary Buffett and David Clark 感謝您對大師輕鬆讀的愛護，並且全力支持您合理地使用我們為您精心編製的內容。希望未來可以提供您更方便更友善的服務。

“As we enter the fifth year of what many economists are calling the Great Recession, we are finding that some of the most amazing businesses -- those with fantastic long-term economics working in their favor -- are trading at prices and price-to-earnings ratios that offer investors real opportunities for increasing their wealth. We aren’t talking about opportunities for quick profit. We are talking about serious long-term moneymaking with ten-year compounding annual rates of return conservatively in the 8%–12% range. That is what the market is now offering us." — Mary Buffett and David Clark 感謝您對大師輕鬆讀的愛護，並且全力支持您合理地使用我們為您精心編製的內容。希望未來可以提供您更方便更友善的服務。