Good companies should also be bought at low P/E ratios. Buffett taught us to patiently wait for good companies at cheap prices and not to chase high prices. Here are the P/E ratios of Buffett's classic investment cases: 1. 1972 See's Candies: 11.9x 2. 1973 The Washington Post: 11.9x 3. 1980 GEICO: ~5x 4. 1985 Capital Cities/ABC: 14.4x 5. 1988 Coca-Cola: 13.7x 6. 1990 Wells Fargo: 4.3–6x 7. 2003 PetroChina (H shares): 5x 8. 2008 BYD: 10.2x 9. 2008 Goldman Sachs: 7x 10. 2011 IBM: 13.5x 11. 2016 Apple: 14.7x