Quotes of All Topics . Occasions . Authors
The only way to win is to work, work, work, work, and hope to have a few insights
Beta and modern portfolio theory and the like - none of it makes any sense to me.
We're the tortoise that has outrun the hare because it chose the easy predictions.
I don't invest in what I don't understand. And I don't want to understand Facebook.
How could economics not be behavioral? If it isn't behavioral, what the hell is it?
People always underestimate the ability of earth to increase its carrying capacity.
I regard the bitcoin craze as totally asinine to create some manufactured currency.
You need a different checklist and different mental models for different companies.
Let me know what your problem is, and I will try to make it more difficult for you.
If you can get really good at destroying your own wrong ideas, that is a great gift.
The liabilities are always 100 percent good. It's the assets you have to worry about.
Don't confuse correlation and causation. Almost all great records eventually dwindle.
We have a history when things are really horrible of wading in when no one else will.
I've been associated with Warren ( Buffett) so long, I thought I'd be just a footnote.
Any year that you don't destroy one of your best-loved ideas is probably a wasted year
If it is wisdom you're after, you're going to spend a lot of time on your ass reading.
We look for a horse with one chance in two of winning and which pays you three to one.
Determine value apart from price; progress apart from activity; wealth apart from size.
Being rational is a moral Imperative. You should never be stupider than you need to be.
Intense interest in any subject is indispensable if you're really going to excel in it.
A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business
The game of life is the game of everlasting learning. At least it is if you want to win.
Forgetting your mistakes is a terrible error if you are trying to improve your cognition.
I do not think you can trust bankers to control themselves. They are like heroin addicts.
We have found in a long life that one competitor is frequently enough to ruin a business.
I regard it as very unfair, but capitalism without failure is like religion without hell.
No wise pilot, no matter how great his talent and experience, fails to use his checklist.
If only I had the influence with my wife and children that I have in some other quarters!
We try more to profit from always remembering the obvious than from grasping the esoteric.
If you don't allow for self-serving bias in the conduct of others, you are, again, a fool.
In my whole life, I have known no wise people who didn't read all the time - none ... ZERO.
Understanding how to be a good investor makes you a better business manager and vice versa.
A director who gets $150,000 per year from a company and needs the money is not independent.
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
The only intelligence investing is value investing...to acquire more than one is paying for.
If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet.
I feel that by getting rich in the way I did, I think my own example has hurt my own country.
As I continued through Cicero's pages, I found much more material celebrating my way of life.
It's been my experience in life if you just keep thinking and reading, you don't have to work.
The tax code gives you an enormous advantage if you can find some things you can just sit with.
It's a real pleasure to earn the trust of your customers slowly over time by doing what's right.
It's stupid the way people extrapolate the past -- and not slightly stupid, but massively stupid.
We’re partial to putting out large amounts of money where we won’t have to make another decision.
Never, ever, think about something else when you should be thinking about the power of incentives.
Anyone with an engineering frame of mind will look at [accounting standards] and want to throw up.
Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
I think there's something to be said for developing the disposition to own stocks without fretting.
I don't spend much time regretting the past, once I've taken my lesson from it. I don't dwell on it.
A board member should be perfectly willing to leave at any time and willing to make the tough calls.