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Warren Buffett Quotes - Page 16

All Quotes Age Balance Belief Borrowing Business Challenges Children Choices Coca Cola Community Compensation Concentration Country Desire Discipline Earth Economics Economy Effort Energy Expectations Fear Fighting Focus Fun Funny Generosity Giving Giving Up Gold Golf Good Times Greed Growth Heart Hell Home House Ignorance Inflation Inspirational Integrity Jewelry Judgment Learning Life Losing Loss Lying Making Money Management Mathematics Money Morning Motivational Office Opportunity Passion Past Purpose Quality Rain Rationality Reputation Risk Running Safety School Selling Sleep Sloth Speculation Strategy Style Success Talent Taxes Time Today Understanding Values Waiting Wall Wealth Winning Worry Writing

We try to exert a Ted Williams kind of discipline. In his book The Science of Hitting, Ted explains that he carved the strike zone into 77 cells, each the size of a baseball. Swinging only at balls in his best cell, he

We try to exert a Ted Williams kind of discipline. In his book The Science of Hitting, Ted explains that he carved the strike zone into 77 cells, each the size of a baseball. Swinging only at balls in his "best" cell, he knew, would allow him to bat .400; reaching for balls in his "worst" spot, the low outside corner of the strike zone, would reduce him to .230. In other words, waiting for the fat pitch would mean a trip to the Hall of Fame; swinging indiscriminately would mean a ticket to the minors.

Baseball, Book, Mean

Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.

Apples, Assets, Lows

The best investment you can make is in yourself.

Inspirational, Investment Success, Entrepreneur

"Warren Buffett's 'Secret Millionaire's Club' Live Interview on Squawk Box". Interview with Becky Quick, www.cnbc.com. July 24, 2009.

The only time to buy these is on a day with no 'y' in it.

Funny, Life, Money

Lawrence A. Cunningham, Warren E. Buffett (2013). “The Essays of Warren Buffett: Lessons for Corporate America (Third Edition)”, p.87, Carolina Academic Press

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

Investing, May, Deals

The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.

Important, Quality, Needs

Most business mistakes are irreversible setbacks, but you get another chance. There are two things in life that you don't get another chance at - marrying the wrong person and what you do with your children.

Children, Mistake, Things In Life

What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital.

Circles, Knowing, Important

The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group, have long underperformed the unsophisticated index-fund investor who simply sits tight for decades. A major reason has been fees: Many institutions pay substantial sums to consultants who, in turn, recommend high-fee managers. And that is a fool's game.

Games, Long, Guy

"Here are the 6 things Warren Buffett considers when making an investment" by Jeremy Schwartz, www.businessinsider.com. March 14, 2015.

We will only do with your money what we would do with our own.

Investing

Richard J. Connors, Warren Buffett (2010). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.194, John Wiley & Sons

I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp.

Crazy, Thinking, Would Be

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "Charlie Rose", www.cnbc.com. October 1, 2008.

Unless your answers are clearly better, copy the answers of your betters.

Answers, Copies

But, surprise - none of these blockbuster events made the slightest dent in Ben Graham's investment principles. Nor did they render unsound the negotiated purchases of fine businesses at sensible prices. Imagine the cost to us, then, if we had let a fear of unknowns cause us to defer or alter the deployment of capital. Indeed, we have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.

Deployment, Principles, Events

Letter To the Shareholders of Berkshire Hathaway Inc., www.berkshirehathaway.com. March 7, 1995.

Every company that has an economist working for him has one employee too many.

Employee, Economist, Company

I choose to work with every single person that I work with. That ends up being the most important factor. I don't interact with people I don't like or admire. That's the key. It's like marrying.

Keys, People, Important

Anyone who believes a growth rate in excess of 15% per annum over the long term is attainable should pursue a career in sales, but avoid one in mathematics.

Believe, Careers, Long

I wouldn't want to manufacture cigarettes. But if I owned - we do own Costco. Do they sell them? Yes. So I don't have a problem owning stock in that. But I just wouldn't want to - I wouldn't want to do it myself. I basically think, if anything is sufficiently antisocial, society should do something about it. But that's a separate question. But - and I don't think there's any company that I have seen that's 100 percent pure.

Thinking, Problem, Antisocial

Source: www.pbs.org

We have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.

Events, Made, Macro

Letter To the Shareholders of Berkshire Hathaway Inc., www.berkshirehathaway.com. March 7, 1995.

If you can eliminate the government as a 39.6% partner, then you will be much better off.

Government, Investing, Partners

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

Investing, Buffets, Investment

The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.

Believe, Mean, Years

Stop trying to predict the direction of the stock market, the economy or elections.

Trying, Investing, Buffets

I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.

Smart, Investing Money, People

I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.

Business, Loss, Firsts

The reaction of weak management to weak operations is often weak accounting.

Business, Management, Weak

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