“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
I see it more like. "here I am with all this cash and there is nothing fairly priced to buy now but soon I might be getting great companies at discount prices".
How he got his initial money is not a particularly nice story of success...
> How he got his initial money is not a particularly nice story of success...
Could you expand on this? I'm genuinely curious
> How he got his initial money is not a particularly nice story of success...
The actual purchase of the failing Berkshire Hathaway textile company perhaps (unless this is about Buffett doing something allegedly unethical)? The textile operation ultimately failed in the mid 1980s, but Buffett was able to, in the meantime, reallocate its cash flows to more promising ventures.