“Our performance, relatively, is likely to be better in a bear market than in a bull market … in a year when the general market had a substantial advance, I would be well satisfied to match the advance of the averages.”

—  Warren Buffett

Second annual letter to Limited Partners (1957) http://www.safalniveshak.com/wp-content/uploads/2013/12/Warren-Buffett-Berkshire-Letters-1957-2012.pdf
Letters to Shareholders (1957 - 2012)

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Warren Buffett 146
American business magnate, investor, and philanthropist 1930

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