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Berkshire Hathaway Inc. Message Board

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  • EliasFardo EliasFardo Jul 8, 1998 8:33 PM Flag

    Jim - Dollar is always a dollar?

    Making predictions is always dangerous,
    especially if they are about the future.

    I copied and
    framed two pages of shareholder communications that now
    hang on the wall of my office. These are from a
    Chickasha Oklahoma company called Sentry Manufacturing
    Company that manufactured quartz crystals for the
    communications industry and for quartz watches. In its letter to
    shareholders for the 3rd quarter of 1976 it said in part "Due
    to the quartz crystal watch technology I believe the
    quartz crystal industry offers the greatest potential
    and opportunity of any industry in America Today" .
    This was signed by Joe C. Norman, the Chairman of the
    Board. However, this upbeat tone did not even last
    throughout the next year. In the letter to shareholders in
    the 1977 annual report, Mr. Norman tells us that "60
    percent of the American quartz industry employment was
    lost during 1977...An American watch crystal industry
    doesn't exist today." I keep this to remind me to place
    very little confidence in the predictions of other
    people, especially if they are about their own company.


    I must have a funny spellchecker. I know that
    Chickasha is not a common word, but why my spellchecker
    wanted to replace it with "Chic kasha" is beyond me.

 
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