7 Nuggets of University of Berkshire Hathaway (vol.13)

1. If you keep playing gamble, you will walk out.

2. The stock does not know you want it.

3. You have to stay smart.

4. Buffett expects significant change over the next 20 years.

5. Berkshire Hathaway built enduring advantages in a highly competitive insurance market.

6. Accounting is a language of business.

7. Buffett avoided the company when he felt its accounting was confusing.