Avoid the big problems. Focus on the easy-to-understand, within your circle of compentence Overall, we' ve done better by avoiding dragons than by slaying them.
Ideal compensation scheme for managers: Both carrots and sticks(Sticks are more powerful,i.e, I suffer, you suffer) Controllable factors(excluding business environments that managers have no control) Exclude the natural compounding effect of retained earnings(capital costs)
On candid-reporting- to-shareholders philosophy Our guideline is to tell you the business facts that we would want to know if our positions were reversed.
Why we want a fair-level stock price rather than a high-level one: It affords Berkshire the best prospect of attracting long-term investors who seek to profit from the progress of the company rather than from the investment mistakes of their partners.(Greater Fool)
On "make the numbers" by fraudulent accounting More money has been stolen with the point of a pen than at the point of a gun. Accounting methodology that is vague or unclear, too often means management wishes to hide something.
Problems on appraisal of CEO performance: It is far easier for an inadequate CEO to keep his job than it is for an inadequate subordinate.(Lack of accountability from the Board, lack of objective measurements of performance)
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一双跑鞋一本书
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一双跑鞋一本书
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一双跑鞋一本书
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一双跑鞋一本书
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一双跑鞋一本书
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一双跑鞋一本书
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一双跑鞋一本书
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一双跑鞋一本书
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一双跑鞋一本书
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