Berkshire’s congregation

If I had a church and I was the preacher, and half the congregation left every Sunday, I wouldn’t say, “Oh, this is marvelous, because I have all this liquidity among all my members! There’s terrific turnover!” I would rather get a church where all the seats were filled every Sunday by the same people. Well that’s the same way we look at the businesses we buy. We want to buy something that we’re really happy to own virtually forever.