Daily Archives: March 31, 2011

Andrew Hill

It bears repeating: top managers rarely leave Warren Buffett’s Berkshire Hathaway. Read more

In Extraordinary Popular Delusions and the Madness of Crowds, the Victorian writer Charles Mackay describes a company formed during the South Sea Bubble in 1720 which declared in its prospectus that it was “for carrying on an undertaking of great advantage, but nobody to know what it is”. After investors hurried to buy shares, the founder “set off the same evening for the Continent” and was never heard of again.