Over the long term, we believe earnings are likely to prevail, or else why would we buy these securities
Warren Buffett[1]
Our calculations exclude capital gains and losses, realized or unrealized, on the stocks and bonds we hold
Warren Buffett[1]
If we change our minds, we will modify the contracts we offer
Warren Buffett[1]
Properly pricing P/C insurance is both an art and a science and is definitely not a business for optimists
Warren Buffett[1]
We can’t buy or sell stocks easily. Sometimes it takes a year or more to build or divest an investment
Warren Buffett[1]
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