--- title: "Meaning & Key Takeaway of: The modern Berkshire Hathaway that he had…" description: "\"“The modern Berkshire Hathaway that he had created churned out new beads for the rosary almost like a clockwork. Buffett’s hunt for things to buy had b..." image: "https://sms4smile.com/quotes/i/c68/alice-schroeder-31297_customer_the-modern-berkshire-hathaway-that-he-ha_2383400.jpg" --- # The modern Berkshire Hathaway that he had created churned… ![“The modern Berkshire Hathaway that he had created churned out new beads for the rosary almost like a clockwork. Buffett’s hunt for things to buy had become more ambitious, free of the cigar butts and lawsuits of the decades before. The great engine of compounding worked as a servant on his behalf…” quote by Alice Schroeder](https://sms4smile.com/quotes/i/c68/alice-schroeder-31297_customer_the-modern-berkshire-hathaway-that-he-ha_2383400.jpg) [Download](https://sms4smile.com/quotes/i/c68/alice-schroeder-31297_customer_the-modern-berkshire-hathaway-that-he-ha_2383400.jpg) [Open image](https://sms4smile.com/quotes/i/c68/alice-schroeder-31297_customer_the-modern-berkshire-hathaway-that-he-ha_2383400.jpg) > ““The modern Berkshire Hathaway that he had created churned out new beads for the rosary almost like a clockwork. Buffett’s hunt for things to buy had become more ambitious, free of the cigar butts and lawsuits of the decades before. The great engine of compounding worked as a servant on his behalf, at exponential speed and under the gathering approval of a public gaze. The method was the same: estimate an investment’s intrinsic value, handicap its risk, buy using margin of safety, concentrate, stay in the circle of competence, let it roll as compounding did the work. Anyone could understand these simple ideas, but few could execute them. Even though Buffett made the process look effortless, the technique and discipline underlying it actually did involve an enormous amount of work for him and his employees. As”” [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Buffett’s investment process relies on disciplined valuation, risk control, and compounding, applied consistently within his expertise. **In simple terms:** Invest with care, focus on value, let compounding work. Key Takeaway Apply disciplined value investing. Themes investment discipline compounding focus Mood analytical determined reflective Type advice inspirational philosophical When to use this quote - Portfolio building - financial planning - long‑term investing - business analysis Key Concepts Intrinsic value margin of safety circle of competence risk assessment Questions to Reflect On - How do you maintain discipline during market volatility? - What safeguards protect you from over‑confidence? A Different Perspective Execution requires deep research and emotional discipline. ★ ★ ★ ★ ★ No ratings yet [Berkshire Hathaway](https://sms4smile.com/quotes/about/berkshire-hathaway-286026/) [Buffett Process](https://sms4smile.com/quotes/about/buffett-process-5910853/) [Clockwork Buffett](https://sms4smile.com/quotes/about/clockwork-buffett-5910856/) [Compounding Worked](https://sms4smile.com/quotes/about/compounding-worked-5910854/) [Customer](https://sms4smile.com/quotes/about/customer/) [Execute Buffett](https://sms4smile.com/quotes/about/execute-buffett-5910855/) [Intrinsic value](https://sms4smile.com/quotes/about/intrinsic-value/) [Investing](https://sms4smile.com/quotes/about/investing/) ## Related quotes > [I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics…](https://sms4smile.com/quotes/charlie-munger/i-m-proud-to-be-associated-with-the-value-system-at-berkshire/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway.](https://sms4smile.com/quotes/william-poundstone/samuelson-however-hedged-his-personal-bets-by-putting-some-of-his-own/) [William Poundstone](https://sms4smile.com/quotes/author/william-poundstone/) > [I'm a bull on Berkshire Hathaway. There may be some considerable waiting, but I think there are some good days ahead.](https://sms4smile.com/quotes/charlie-munger/i-m-a-bull-on-berkshire-hathaway-there-may-be-some-considerable/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [ Wesco had a market capitalization of $40 million when we bought it \[in the early 1970s\]. It's $2 billion now. It's been a long… ](https://sms4smile.com/quotes/charlie-munger/wesco-had-a-market-capitalization-of-40-million-when-we-bought-it-in/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway…](https://sms4smile.com/quotes/warren-buffett/i-mean-in-terms-of-alternatives-some-people-have-suggested-for/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I’d say that Berkshire Hathaway’s system is adapting to the nature of the investment problem as it really is. We’ve really made the money…](https://sms4smile.com/quotes/charlie-munger/i-d-say-that-berkshire-hathaway-s-system-is-adapting-to-the-nature-of/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [“Berkshire Hathaway Public Holdings April 4, 2012 Company Holding Value Stake The Coca-Cola Company (KO) $14.69 billion 8.8% International Business Machines (IBM) $13.17 billion…](https://sms4smile.com/quotes/david-andrews/berkshire-hathaway-public-holdings-april-4-2012-company-holding-value/) [David Andrews](https://sms4smile.com/quotes/author/david-andrews/) > [By setting up Berkshire Hathaway, Warren has done everything very rationally.](https://sms4smile.com/quotes/walter-schloss/by-setting-up-berkshire-hathaway-warren-has-done-everything-very/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [At Berkshire Hathaway we do not like to compete against Chinese manufacturers.](https://sms4smile.com/quotes/charlie-munger/at-berkshire-hathaway-we-do-not-like-to-compete-against-chinese/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Every business tries to turn this year's success into next year's greater success. It's hard for me to see why Microsoft is sinful to…](https://sms4smile.com/quotes/charlie-munger/every-business-tries-to-turn-this-year-s-success-into-next-year-s/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [The very first stock I bought right out of college was Berkshire Hathaway.](https://sms4smile.com/quotes/christie-hefner/the-very-first-stock-i-bought-right-out-of-college-was-berkshire/) [Christie Hefner](https://sms4smile.com/quotes/author/christie-hefner/) > [Size will hurt returns. Look at Berkshire Hathaway - the last five things Warren has done have generated returns that are splendid by historical…](https://sms4smile.com/quotes/charlie-munger/size-will-hurt-returns-look-at-berkshire-hathaway-the-last-five/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Failure doesn't have anything to do with your intrinsic value as a person.](https://sms4smile.com/quotes/albert-ellis/failure-doesn-t-have-anything-to-do-with-your-intrinsic-value-as-a/) [Albert Ellis](https://sms4smile.com/quotes/author/albert-ellis/) > [It were good to know how much hay an acre of every sort will bear; how many cattle the same weight of each sort…](https://sms4smile.com/quotes/william-petty/it-were-good-to-know-how-much-hay-an-acre-of-every-sort-will-bear-how/) [William Petty](https://sms4smile.com/quotes/author/william-petty/) > [Music has an intrinsic value that touches Americans - they love their music, and want more.](https://sms4smile.com/quotes/hilary-rosen/music-has-an-intrinsic-value-that-touches-americans-they-love-their/) [Hilary Rosen](https://sms4smile.com/quotes/author/hilary-rosen/) ## More by Alice Schroeder > [“Lose money for the firm, and I will be understanding. 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There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity…](https://sms4smile.com/quotes/alice-schroeder/there-are-two-ideas-of-government-there-are-those-who-believe-that-if/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“Be fearful when others are greedy, and greedy when others are fearful.” This was the time to be greedy.33”](https://sms4smile.com/quotes/alice-schroeder/be-fearful-when-others-are-greedy-and-greedy-when-others-are-fearful/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“The big question about how people behave is whether they’ve got an Inner Scorecard or an Outer Scorecard. 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He reads The Financial Times,…](https://sms4smile.com/quotes/alice-schroeder/he-has-a-really-consistent-routine-he-comes-in-in-the-morning-at/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“Who’s my most valuable client?’ And he decided it was himself. So he decided to sell himself an hour each day. He did it…](https://sms4smile.com/quotes/alice-schroeder/who-s-my-most-valuable-client-and-he-decided-it-was-himself-so-he/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“Remember one thing, Warren: Money isn’t making that much difference in how you and I live. We’re both going down to the cafeteria for…](https://sms4smile.com/quotes/alice-schroeder/remember-one-thing-warren-money-isn-t-making-that-much-difference-in/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“You should never, when facing some unbelievable tragedy, let one tragedy increase into two or three through your failure of will,” he would later…](https://sms4smile.com/quotes/alice-schroeder/you-should-never-when-facing-some-unbelievable-tragedy-let-one/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“Time is the friend of the wonderful business, the enemy of the mediocre.”](https://sms4smile.com/quotes/alice-schroeder/time-is-the-friend-of-the-wonderful-business-the-enemy-of-the-mediocre/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“allies are essential; that commitments are so sacred that by nature they should be rare; and that grandstanding rarely gets anything done.”](https://sms4smile.com/quotes/alice-schroeder/allies-are-essential-that-commitments-are-so-sacred-that-by-nature/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“On me personally what has been the most important was to understand the value of time -- and this is something that has come…](https://sms4smile.com/quotes/alice-schroeder/on-me-personally-what-has-been-the-most-important-was-to-understand/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch.…](https://sms4smile.com/quotes/alice-schroeder/if-you-thought-of-yourself-as-having-a-card-with-only-twenty-punches/) [Alice Schroeder](https://sms4smile.com/quotes/author/alice-schroeder/) > [“At age forty-seven, Warren had already accomplished everything he had ever imagined he could want. 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Not necessarily.](https://sms4smile.com/quotes/ben-bernanke/if-wall-street-crashes-does-main-street-follow-not-necessarily/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [The exact details of how you practice value investing will vary investor to investor, but the fundamental principle of scouring the world, looking for…](https://sms4smile.com/quotes/whitney-tilson/the-exact-details-of-how-you-practice-value-investing-will-vary/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [The best way to hold customers is to constantly figure out how to give them more for less.](https://sms4smile.com/quotes/philip-kotler/the-best-way-to-hold-customers-is-to-constantly-figure-out-how-to/) [Philip Kotler](https://sms4smile.com/quotes/author/philip-kotler/) > [Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen…](https://sms4smile.com/quotes/peter-schiff/perhaps-the-most-important-reason-to-be-skeptical-of-government/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [When the dollar collapses, it's not doing it in a vacuum. 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The great engine of compounding worked as a servant on his behalf, at exponential speed and under the gathering approval of a public gaze. The method was the same: estimate an investment’s intrinsic value, handicap its risk, buy using margin of safety, concentrate, stay in the circle of competence, let it roll as compounding did the work. Anyone could understand these simple ideas, but few could execute them. Even though Buffett made the process look effortless, the technique and discipline underlying it actually did involve an enormous amount of work for him and his employees. 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