A lot of people think if you just had more process and more compliance- checks and double-checks and so forth-you could create a better world.We just try to operate in a seamless web of deserved trust and be careful of whom we trust.
Ninety-nine percent of the troubles that threaten our civilization come from too optimistic, therefore we should have a system where the accounting is a way more conservative.
Our game is to recognize a big idea when it comes along when one doesn't come along very often.
We both (Warren Buffett) insist on a lot of time being available almost every day to just sit and think.That is very uncommon in American business.We read and think.
I've seen so much folly and stupidity on the part of our major philanthropic groups, including the world bank.I really have more confidence in building up the more capitalistic ventures like Costco.
It's like the slaughter of the innocents.It makes the people who run Las Vegas seem like good people.
Wall Street has too much wealth and political power.
Mimicking the herd invites regression to the mean.
Take a simple idea, and take it seriously.
The liabilities are always percent good.It's the assets you have to worry about.
We're not interested in taking a substantial chance of taking a lot of very decent people back to 'Go' so we can have one more zero on our net worth.
the most famous composer in the world but was utterly miserable most of the time, and of the reasons was because he always overspent his income.This was Mozart.If Mozart couldn't get by with this kind of asinine conduct, I don't think you should try.
When you borrow a man's car, always return it with a tank of gas.
A lot of people with high IQs are terrible investors because they've got terrible temperaments.
The big money is not in buying or selling, but in the waiting.
An intelligent investing is value investing, acquiring more than you are paying for.
A great business at a fair price is superior to a fair business at a great price.
It's waiting that helps you as an investor and a lot of people just can't stand to wait.If you didn't get the deferred -gratification gene, you've got to work very hard to overcome that.
Live within your income and save so you can invest.Learn what you need to learn.
We have three baskets for investing: yes, no, and too tough to understand.