More than 50 years ago, Charlie told me that it was far better to buy a wonderful business at a fair price than to buy a fair business at a wonderful price. Despite the compelling logic of his position, I have sometimes reverted to my old habit of bargain-hunting, with results ranging from tolerable to terrible. Fortunately, my mistakes have usually occurred when I made smaller purchases. Our large acquisitions have generally worked out well and, in a few cases, more than well.
你太謙虛了。如果沒有先上過巴菲特班再讀年報，感受是不會這麼深的。
雖然這一段沒有老巴詰屈聱牙的英文單字，但感覺老巴還是賣弄了一下英文。
譬如：
(1) wonderful business vs. fair price. fair business vs. wonderful price.
(2) tolerable vs. terrible
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