On Friday, the 94-year-old Warren Buffett celebrated his birthday. The value of his vast, unique business has never been higher.
This week, Berkshire Hathaway overtook Apple as the first non-technology corporation to reach a $1 trillion market valuation.
Berkshire Class A shares crossed $700,000 per share for the first time ever. Despite his elderly age, Buffett’s buddy and another great investor Howard Marks attributes Berkshire’s success to three factors.
Marks calls them the “Oracle of Omaha.” “The key has been a well-planned approach implemented over a seven-decade period with discipline, consistency, and uncommon insight,” stated Marks, co-founder and co-chairman of Oaktree Capital Management. While necessary, discipline and consistency are insufficient.
Source (CNBC)
