7 Nuggets of University of Berkshire Hathaway (vol.22)

1. Buffet thought the big problem of the airline business is not so much aggregate revenue.

2. Biggest cost us labor.

3. The structure of ownership structure of  Berkshire was stable in 2001.

4. Buffett said we have no masterplan, there would be just allocating capital. 

5. Buffet guaranteed that sometimes in next 20 years, people would do exceptionally stupidly in the equity market.

6. Human kinds has not progressively similar in our ability to get along.

7. Modern technology has enormously increased our abilities to inflict damage.