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Warren Buffett Quotes - Page 32

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

I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to

I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to the unprepared.

Zero, Believe, Years

I don't want to give a lecture to this body that's out there. You know, I mean, having had the heart attack, I want to get it back functioning. And as a practical matter, I mean if you were Bear Stearns, and you were a shareholder, you know, you lost 90 to 95 percent of your money. A good many lost their jobs. They lost very cushy lives, many of them.

Jobs, Heart, Mean

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

Is management rational?

Investing, Management, Rational

Goldman Sachs saying they might be interested in such an investment. I'm familiar with the company. I've known the management, the current management, Jack Welch before Jeff Immelt. I've known him for decades.

Might, Management, Investment

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

And people really behaved in a fraudulent way or something, we'll go back and find the culprits later on. But that really isn't the problem we have. I mean that's where it came from, though. We leveraged up and if you have a 20 percent fall in value of a $20 trillion asset, that's $4 trillion. And when $4 trillion lands - losses land in the wrong part of this economy, it can gum up the whole place.

Fall, Mean, Loss

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

When Berkshire buys common stock, we approach the transaction as if we were buying into a private business.

Investing, Buying, Common

If some institution wants to sell you a billion dollars worth of mortgages, they might have to sell 100 million in the market, and then you'll buy the other 900 million on the same terms. Now, the very fact that this has been authorized or will be authorized, I hope, will firm up the market to some degree. And that's fine. But you don't want to have artificial prices being paid.

Degrees, Dollars, Want

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

Generally, we have translated greater output in the few hours of work per week over the last century. And that's a good trend of the future. But we do have to have a system that, as output of goods and services keeps increasing per capita, that it takes care of the people who are willing to work and really are not getting by very well with a family on a 40-hour week.

People, Care, Week

Source: www.pbs.org

The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.

Business, Writing, Men

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.74, John Wiley & Sons

Fear is the foe of the faddist, but the friend of the fundamentalist.

Foe, Fundamentalist

"Warren Buffett's 23 Most Brilliant Insights About Investing" by Sam Ro, www.businessinsider.com. August 31, 2014.

America should stand for more than just wealth.

Wealth

Source: www.pbs.org

I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.

Mean, 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.

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

Criminals, Financial, Institutions

I think that actually people in my situation should be paying more tax.

Thinking, People, Should

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

Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.

Sloth, Style, Boards

You could be somewhere where the mail was delayed three weeks and do just fine investing.

Three, Investing, Mail

If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value.

Thinking, Years, Together

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.160, John Wiley & Sons

It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.

Impossible, Ceo, Species

I view derivatives as time bombs, both for the parties that deal in them and the economic system.

Party, Views, Bombs

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.74, John Wiley & Sons

Can you know you can have institutions that put curbs on that in various ways, and actually what the banks, you know, they have various capital ratios and that sort of thing, but the banks got around them, I mean, they set up sieves and that sort of thing just to get more leverage. People love leverage when it's working. I mean, it's so easy to borrow money from a guy at X and put it out at X.

Mean, People, Guy

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

It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.

Country, Income, Investing

It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.

Years, Investment, Minutes

All but a few of the organizations do not specifically promise to deliver superior investment performance although it is perhaps not unreasonable for the public to draw such an inference from their advertised emphasis on professional management.

Organization, Promise, Management

The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.

People, Helping, Bigs

"7 things Warren Buffett and Charlie Munger want new graduates to know" by John Szramiak, www.businessinsider.com. June 15, 2016.

People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.

Golf, Skills, People

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