Business Formation, Creative Destruction and Long Term Investing

“The test of a first rate intelligence is the ability to hold two opposed ideas in the mind at the same time and still retain the ability to function”

F. Scott Fitzgerald (The Crack-Up, 1936)

At the beginning of the month, some of us here attended the Berkshire Hathaway annual general meeting in Omaha, Nebraska. It is of course a landmark event in the investment world calendar and a unique opportunity to engage up close with Berkshire’s two legendary leaders: Warren Buffett and Charlie Munger. 

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