“He sits tight. He keeps his head while others are losing theirs, and then he moves in, if he wishes, and buys those heads (meaning large blocks of stock or entire companies) at an advantageous price. And then he keeps them. He rolls them into Berkshire Hathaway’s almost comically diverse portfolio (the company’s wholly owned properties, to list just a few, include a chocolate-candy retailer, an underwear manufacturer, a furniture store, a chain of ice-cream restaurants, a maker of cowboy boots, and an insurance firm that insures insurance firms) and watches his wealth, and that of his shareholders, grow and grow.”
— [American Everyman longform.org]
