Key Quotes from 1998 Shareholder Letter

1. "Remember Wagner, whose music has been described as better than it sounds? Well, Berkshire's progress in 1998 -- though more than satisfactory -- was not as good as it looks."

2. "GEICO, once again, simply shot the lights out."

3. "Popcorn stands just won't do. Today's markets are not friendly to our search for 'elephants,' but you can be sure that we will stay focused on the hunt."

4. "I'll keep at least 99% of my net worth in Berkshire for as long as I am around."

5. "There are really only three kinds of people in the world: those who can count and those who can't."

---

Source: Full Letter