"... short-term serial ownership then prospered **when able to adopt a fifty-year time horizon.** Manage knowing that **people value intangibles, especially permanence**, as seen in numerous [[Berkshire Hathaway|Berkshire]] acquisitions made at discounts to business value ... "([Location 5185](https://readwise.io/to_kindle?action=open&asin=B00K33E460&location=5185)) --- **Tags** -- [[quotes]], [[long-term-thinking]] , [[intangible-assets]] **Source** -- [[202407260951 - B - Berkshire Beyond Buffett]]