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Sunday, April 21, 2013

Buffett Nebraska

Q What exactly do you do all day?
A I spend an inordinate time reading. I probably read atleast six hours a day, maybe more.And I spend an hour or two on the telephone.And I think. Thats about it.

-I would say there is no hunch or intuitiveness or nothing of the sort. I try to sit and figure out what the future economic prospects of a business are. I try to figure out whether the management is someone or a group I both trust and admire, and I try to figure out whether the price is right. I mean that: Its the right business, the right people and the right price.