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Warren Buffett Quotes - Page 31

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Lethargy, bordering on sloth should remain the cornerstone of an investment style.

Lethargy, bordering on sloth should remain the cornerstone of an investment style.

Style, Sloth, Investing

In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'

Giving, Weight, Way

Never lie under any circumstances.

Life, Lying, Generosity

In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.

Kitchen, Cockroaches, Problem

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.150, John Wiley & Sons

A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.

Wall, Business, Groups

I've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.

Dad, Home, Kids

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

Nevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results.

Might, Size, Helping

1965 Buffet Partnership Ltd. Shareholder Letter, www.businessinsider.com.

In earlier years, a lesser effort produced literally dozens of comparable opportunities. It is difficult to be objective about the causes for such diminution of one's own productivity. Three factors that seem apparent are: (1) a somewhat changed market environment; (2) our increased size; and (3) substantially more competition.

Opportunity, Years, Effort

I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up.

Country, Gum, Worried

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

The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.

Business, Believe, Thinking

Chairman's Letter, www.berkshirehathaway.com. March 1, 1994.

I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.

Microsoft, Mail, Minneapolis

I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.

Mean, Mass Destruction, Weapons

"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 AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.

Book, World, Derivatives

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

There's always a mismatch. I mean, you know, as the economy evolves, it reallocates resources. Now, the real problem, in my view, is - this has been - the prosperity has been unbelievable for the extremely rich people. If you go to 1982, when Forbes put on their first 400 list, those people had $93 billion. They now they have $2.4 trillion, 25 for one. That is - this has been a prosperity that's been disproportionately rewarding to the people on top.

Real, Mean, People

Source: www.pbs.org

Yeah, we don't consider many stupid things. I mean, we get rid of 'em fast...Just getting rid of the nonsense -- just figuring out that if people call you and say, 'I've got this great, wonderful idea', you don't spend 10 minutes once you know in the first sentence that it isn't a great, wonderful idea...Don't be polite and go through the whole process.

Stupid, Mean, Ideas

I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life.

Mean, Truth Is, Taxes

"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 would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.

Thinking, Trying, Might

"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 make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.

Practice, Long, Effort

I wouldn’t mind going to jail if I had three cellmates who played bridge

Bridges, Jail, Mind

"Warren Buffett Speaks: Wit and Wisdom from the World's Greatest Investor". Book by Janet Lowe, 1997.

As one of my older friends says, "Nostalgia just isn't what it used to be." Let's take a stab at it, anyway.

Nostalgia, Used, Older Friends

I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.

Teacher, Fate, Long

"Zuckerberg, Gates, Buffett and the Triumph of Competitive Philanthropy". www.washingtonpost.com. December 02, 2015.

I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.

Perfect, Would Be, Turns

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

When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.

Crazy, Real, Estates

"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'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up.

Hands, Dollars, Sitting

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

I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude.

Jobs, Thinking, People

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

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