Walt Disney

When I buy a stock, I think of it in terms of buying a whole company, just as if I were buying the store down the street. If I were buying the store, I’d want to know all about it. I mean, look at what Walt Disney was worth on the stock market in the first half of 1966. The price per share was $53, and this didn’t look especially cheap; but on that basis, you could buy the whole company for $80 million when “Snow White,” “Swiss Family Robinson,” and some other cartoons, which had been written off the books, were worth that much; and then you had Disneyland and Walt Disney, a genius, as a partner.