1987 Shareholder Letter - Key Quotes
Memorable quotes from Buffett's 1987 letter.
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Key Quotes from 1987 Shareholder Letter
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"In many cases, a corporation's book value and business value are almost totally unrelated."
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"Our premium of business value to book value has widened for two simple reasons: We own some remarkable businesses and they are run by even more remarkable managers."
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"Jack Benny expressed upon receiving an acting award: 'I don't deserve this, but then, I have arthritis and I don't deserve that either.'"
Source: Full Letter