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Daniel Pecaut Books

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“The danger of relying on historical statistics or formulas is that you end up betting on a 14-year-old horse with a great record but is now ready for the glue factory.”

Value InvestingWarren BuffettCharlie MungerBerkshire Hathaway
Book:University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
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“Buffett also noted that book value is seldom meaningful in analyzing the value of a business. Book value simply records what was put into the business. The key to calculating value is determining what will come out of the business.”

Value InvestingWarren BuffettCharlie MungerBerkshire Hathaway
Book:University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
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“Buffett gave two criteria for evaluating the performance of management: 1) How well do they run the business? and 2) How well do they treat the owners?”

Value InvestingWarren BuffettCharlie MungerBerkshire Hathaway
Book:University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
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“If you are going to be a lifelong buyer of food, you welcome falling prices and deplore price increases. So should it be with investments.”

Value InvestingWarren BuffettCharlie MungerBerkshire Hathaway
Book:University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
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