It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.
I just think that – when a country needs more income and we do, we’re only taking in 15 percent of GDP, I mean, that – that – when a country needs more income, they should get it from the people that have it.
You know, people talk about this being an uncertain time. You know, all time is uncertain. I mean, it was uncertain back in – in 2007, we just didn’t know it was uncertain. It was – uncertain on September 10th, 2001. It was uncertain on October 18th, 1987, you just didn’t know it.
Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.
The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.
There seems to be some perverse human characteristic that likes to make easy things difficult.
Derivatives are financial weapons of mass destruction.
Time is the friend of the wonderful company, the enemy of the mediocre.
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.
If past history was all there was to the game, the richest people would be librarians.
When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.