cho, page-20

People might say "oohhh..Warren is losing his touch"... a fall in Berkshire Hathaway quarter income. Ha!

Coming midly from less insurance income, it is this that has benefited many in the long run. Chasing premium income (i.e writing bad policies that wil pay out far more claims than premium received in the future) is bad business, despite recording more sales 'growth' on the statement.


This is what distinguishes him from the rest. Why pay to acquire money on the credit markets when you can get it for free (basically) via premiums.

Anyhow, you judge. I will acquire more "b" class as they fall.

http://business.theage.com.au/business/buffett-profit-declines-but-tops-forecasts-20080808-3s7v.html