ValueOS Score

“We continue to seek businesses with wide economic moats—sustainable competitive advantages that protect them from competitors.”

— 1996 Letter to Shareholders · Economic Moat

“Coca-Cola's brand allows it to sell its product at a premium price worldwide, generating extraordinary returns on capital.”

— 1991 Letter to Shareholders · Economic Moat

“We will never play financial Russian roulette with funds entrusted to us, regardless of how high the potential payout.”

— 2008 Letter to Shareholders · Margin of Safety

“Owner earnings represent a company's true economic earnings—the cash that can be distributed to owners without harming the business.”

— 1986 Letter to Shareholders · Owner Earnings

“The three most important words in investing are: margin of safety. You don't try to buy businesses worth $100 million for $80 million. You leave yourself an enormous margin.”

— 1969 Letter to Shareholders · Margin of Safety