The Berkshire Hathaway Financial Fortress

Warren Buffett wrote in the 2018 annual letter to Berkshire Hathaway shareholders,

Berkshire will forever remain a financial fortress. In managing, I will make expensive mistakes of commission and will also miss many opportunities, some of which should have been obvious to me. At times, our stock will tumble as investors flee from equities. But I will never risk getting caught short of cash.

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