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Warren Buffett Quotes - Page 29

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We have long felt that the only value of stock forecasters is to make fortune-tellers look good.

We have long felt that the only value of stock forecasters is to make fortune-tellers look good.

Long, Looks, Investing

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.165, John Wiley & Sons

As far as you are concerned, the stock market does not exist. Ignore it.

Doe, Investing, Concerned

When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you. That’s the ultimate test of how you’ve lived your life.

Love You, People, Age

"Warren Buffett's Secret "10 Ways to Get Rich" Hits Hundreds of Sunday Newspapers" by Alex Crippen, www.cnbc.com. September 7, 2010.

Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.

Decision, Investing, Earning

Richard J. Connors, Warren Buffett (2010). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.193, John Wiley & Sons

Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life. The calculation of intrinsic value, though, is not so simple. As our definition suggests, intrinsic value is an estimate rather than a precise figure, and it is additionally an estimate that must be changed if interest rates move or forecasts of future cash flows are revised.

Moving, Taken, Simple

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.220, John Wiley & Sons

I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.

Years, Shy, Gains

"Stop Coddling the Super-Rich" by Warren Buffett, www.nytimes.com. August 14, 2011.

We want to use cash. The reason we haven't used our cash two years ago, we just didn't find things that were that attractive. But when people talk about cash being king, it's not king if it just sits there and never does anything. There are times when cash buys more than other times, and this is one of the other times when it buys a fair amount more, so we use it.

Kings, Years, Two

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

If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.

Thinking, Age, Care

"The Snowball: Warren Buffett and the Business of Life". Book by Alice Schroeder, October 27, 2009.

... not doing what we love in the name of greed is very poor management of our lives.

Life, Investment Success, Names

I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.

Real, Believe, Men

The only way to be loved is to be loveable, which really irritates me.

Way

Investing is the greatest business in the world because you never have to swing. You stand at the plate; the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like; then, when the fielders are asleep, you step up and hit it.

Opportunity, Swings, Waiting

Forbes magazine Interview, November 01, 1974.

We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends.

Government, Payroll Tax, Income

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

Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.

Investing, Should, Sinking

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.167, John Wiley & Sons

If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.

Thinking, Intelligent, Years

If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.

Circles, Competence, Wells

An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.

Records, Enough, Lows

Chairman's Letter to the Shareholders of Berkshire Hathaway Inc., www.berkshirehathaway.com. 1978.

What motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As 'bandwagon' investors join any party, they create their own truth - for a while.

Party, Past, Rising Prices

"Treasury commitee struggles to hide scorn over Osborne's Help to Buy plan" by Nils Pratley, www.theguardian.com. April 19, 2013.

When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.

Reputation, Management, Economics

Source: hurricanecapital.wordpress.com

In that, we agreed with Andrew Carnegie, who said that huge fortunes that flow in large part from society should in large part be returned to society. In my case, the ability to allocate capital would have had little utility unless I lived in a rich, populous country in which enormous quantities of marketable securities were traded and were sometimes ridiculously mispriced. And fortunately for me, that describes the U.S. in the second half of the last century.

Country, Enormous Quantities, Society

We've got a wonderful economic formula in this country.

Country, Wonderful, Economic

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

I have got this letter which actually goes out the day after I die. It has already been written. And it says that: "Yesterday I died". And then it says: "That's bad news for me, but it's not bad news for you, the shareholders of Berkshire". And then I go on and explain what is going to happen. I know that is one time when they will be really interested in hearing from me.

Yesterday, News, Goes On

"Warren Buffett: 'My elephant gun is loaded'". Interview with Dominic Lawson, www.telegraph.co.uk. September 22, 2002.

I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative.

Math, Years, Two

"Three Hours With Warren Buffett - Live From Omaha". Interview with Becky Quick, www.cnbc.com. August 22, 2008.

One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.

Pockets, Investing, Irony

If anything, taxes for the lower and middle class and maybe even the upper-middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.

Cutting, Thinking, Class

"Make more than $250k? Obama wants you to pay more in taxes, like it or not" by Ed Hornick, www.cnn.com. April 14, 2011.

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