The Warren Buffett Way: The World’s Greatest Investor

Notes 231

6. Berkshire Hathaway Annual Report, 1991, 5.


7. Berkshire Hathaway Annual Report, 1985, 19.


8. Berkshire Hathaway Annual Report, 1990, 16.


9. Berkshire Hathaway Annual Report, 1993, 16.
   10.Fortune( December 19, 1988), quoted in Kilpatrick, Of Permanent Value
   (2004), 1331.


10. Berkshire Letters to Shareholders, 1977–1983, 53.


11. Berkshire Hathaway Annual Report, 2001, 5.


12. Berkshire Hathaway Annual Report, 2001, 15.


13. Grace Shim, “Berkshire Hathaway to Buy Fruit of the Loom,” Omaha
    World-Herald(November 4, 2001).


14. Dean Foust, “This Trailer Deal Could Get Trashed,” BusinessWeek(Sep-
    tember 8, 2003), 44.


15. David Wells, “Buffett Says He Will Not Increase Bid for Clayton,” The Fi-
    nancial Times,USA ed. ( July 10, 2003), 19.

Chapter 9 Investing in Fixed-Income Securities

1. Berkshire Hathaway Annual Report, 2003.


2. Berkshire Hathaway Annual Report, 1988, 14.
   3.Berkshire Hathaway Annual Report, 1990, quoted in Lawrence A.
   Cunningham,The Essays of Warren Buffett: Lessons for Corporate Amer-
   ica,rev. ed. (privately printed ), 105.


3. Berkshire Hathaway Annual Report, 1990, 18.


4. Berkshire Hathaway Annual Report, 2002.


5. Berkshire Hathaway Annual Report, 2000.


6. Berkshire Hathaway Annual Report, 1988, 15.

Chapter 10 Managing Your Portfolio

1. Personal communication to author, August 1994.


2. Andrew Barry, “With Little Cheery News in Sight, Stocks Take a Break,”
   Barron’s(November 16, 1998), MW1.


3. Berkshire Hathaway Annual Report, 1993, 15.


4. Ibid.


5. Ronald Surz, “R-Squareds and Alphas Are Far from different Alpha-Bets,”
   The Journal of Investing(Summer 1998).


6. Interview with Warren Buffett, August 1994.
   7.Wall Street Journal(September 30, 1987), quoted in Andrew Kilpatrick, Of
   Permanent Value: The Story of Warren Buffett( Birmingham, AL: AKPE,
   2004), 1328.