1997: Is it possible to overpay for an "inevitable" business, like Gillette or Coca-Cola?
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AUDIENCE MEMBER: Mr. Buffett, my name is Pete Banner (PH) and I’m from Boulder, Colorado, and I’m a shareholder. Recently [Federal Reserve Chairman] Mr. [Alan] Greenspan made his comments about exuberance. And it wasn’t long thereafter that you came out in the annual report and made your comments that you felt the market was fully valued or something of that nature.
1997: Is it possible to overpay for an "inevitable" business, like Gillette or Coca-Cola?
1997: Is it possible to overpay for an…
1997: Is it possible to overpay for an "inevitable" business, like Gillette or Coca-Cola?
AUDIENCE MEMBER: Mr. Buffett, my name is Pete Banner (PH) and I’m from Boulder, Colorado, and I’m a shareholder. Recently [Federal Reserve Chairman] Mr. [Alan] Greenspan made his comments about exuberance. And it wasn’t long thereafter that you came out in the annual report and made your comments that you felt the market was fully valued or something of that nature.