Saturday, September 13, 2008

Buying mediocre companies at bargain price

"After ending our corporate marriage to Hochschild Kohn, [a Baltimore department store Buffett bought for a bargain price] I had memories like those of the husband in a country song, "My Wife Ran Away With My Best Friend and I Still Miss Him a Lot."

(Berkshire Hathaway Annual Report 1989)

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