When Hamlet Retires
(with apologies to W.S.)

To seek income growth, or remain with fixed,
That is the question.
Whether 'tis better to suffer
The ravages of inflation on fixed ,
Or to pocket the benefits of income growth
And risk a bit of fluctuation?
To grow, to grow - yet to sleep well.
And by that income growth to profit
Without concern
For the thousand natural shocks
That the market is heir to.
'Tis the strategy to be followed.
Ay, then there's no rub!

© T. Connolly Jan 2002

From 2002 Chairman's Letter to Shareholders of Berkshire Hathaway (page 16)

"Despite three years of falling prices, which have significantly improved the attractiveness of common stocks, we find very few that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge."