“To illustrate how things can go wrong when investing it is good to know that **even [[Warren Buffett]]’s Berkshire Hathaway portfolio was down more than 50% twice in the last 50 years** (1974 & 2008/2009).” ([Location 189](https://readwise.io/to_kindle?action=open&asin=B07CNFFJ9J&location=189)) --- **Tags** -- [[quotes]], [[Berkshire Hathaway]], [[investments]], [[volatility]], [[long-term-thinking]] **Source** -- [[202506221723 - LN - Modern Value Investing]]