On banking business

  Buffett: Banking, if you can just stay away from following the fads and making bad loans, has been a remarkably good business. Since WW II, ROE for banks that have stayed out of trouble has been good. Some large well-run banks earn 20% ROE. I’ve been surprised that margins in banking haven’t been competed […]

Warren Buffett–In 1974

Under the 1974 headline, “Look At All Those Beautiful, Scantily Clad Girls Out There!,” this profile in Forbes magazine captures Warren Buffett’s personality and chronicles the singular path he cut through the investment world. Though the piece is 34 years old, it sheds light on the man behind Berkshire Hathawayas the company’s shareholders meet this weekend in Omaha, […]

Warren Buffett: Quantitative vs Qualitative Investing

In Buffett Partnership Letter October 9, 1967, Buffett said, “The evaluation of securities and businesses for investment purposes has always involved a mixture of qualitative and quantitative factors. At the one extreme, the analyst exclusively oriented to qualitative factors would say, “Buy the right company (with the right prospects, inherent industry conditions, management, etc..) and […]