Warren Buffett ·Berkshire Hathaway ·1 MAR 2010
Hold Expensive Cash So You Can Be the Buyer in a Crisis
Liquidity is a strategic weapon disguised as a boring balance sheet item — its real return shows up only when everyone else runs out.
Leader · Profile
Warren Buffett
Berkshire Hathaway
1965–present
Chairman of Berkshire Hathaway. His annual shareholder letter spanning six decades is the longest-running primary-source record of a chief executive's thinking in modern business.
WB
Correspondence in the archive
2 letters
Warren Buffett ·Berkshire Hathaway, Inc. ·27 FEB 2009
Buffett's 2008 Letter Spends Three Pages Telling Shareholders What He Got Wrong
Buffett doesn't apologize for the loss. He apologizes for the analysis. Those are different things and most CEOs conflate them.