It’s been 50 years since Warren Buffett — a.k.a. the Oracle of Omaha — took control of Berkshire Hathaway and turned a sleepy textile company into a powerful conglomerate with multiple businesses and investments.
And that means it’s been 50 years since Buffett started writing his annual letter to shareholders.
The 2014 edition — the epistles always refer back to the previous year — gives us the perfect excuse to review all 50 letters and find 50 of the most memorable quotes from them.
Keep in mind that Buffett’s early letters — some of which were not actually signed by him — featured little more than straightforward accounts of Berkshire’s finances.
But by the late 1970s, the oracle started, well, oracle-ing, offering pointed, humorous and sage-like commentary on the markets.
And along the way, the cost-conscious billionaire wasn’t afraid to make fun of himself (and his one indulgence — namely, a private jet).
Read and enjoy.