Buffett’s gas station

You shouldn’t buy a stock, in my view, for any other reason than the fact that you think it’s selling for less than it’s worth, considering all the factors about the business. Back when I had 10,000 bucks, I put 2,000 of it into a Sinclair service station, which I lost, so my opportunity cost on it’s about 6 billion right now. A fairly big mistake—it makes me feel good when Berkshire goes down, because the cost of my Sinclair station goes down too.