Warren Buffett · 246 pages
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“A horse that can count to ten is a remarkable horse—not a remarkable mathematician.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“calling someone who trades actively in the market an investor “is like calling someone who repeatedly engages in one-night stands a romantic.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“So smile when you read a headline that says “Investors lose as market falls.” Edit it in your mind to “Disinvestors lose as market falls—but investors gain.” Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: “Every putt makes someone happy.”)”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“as happens in Wall Street all too often, what the wise do in the beginning, fools do in the end.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“Having firstrate people on the team is more important than designing hierarchies and clarifying who reports to whom”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“(Thomas J. Watson Sr. of IBM followed the same rule: “I’m no genius,” he said. “I’m smart in spots—but I stay around those spots.”)”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“The requisites for board membership should be business savvy, interest in the job, and owner-orientation.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“this holding has proved extraordinarily profitable thanks to a move by your Chairman that combined luck and skill—110% luck, the balance skill.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“say, a 2:1 ratio than it is to have far greater coverage provided by a single utility. A catastrophic event can render a single utility insolvent—witness what”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“thought then that decent, intelligent, and experienced managers would automatically make rational business decisions. But I learned over time that isn’t so. Instead, rationality frequently wilts when the institutional imperative comes into play. For example: (1) As if governed by Newton’s First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“Loss of focus is what most worries Charlie and me when we contemplate investing in businesses that in general look outstanding. All too often, we’ve seen value stagnate in the presence of hubris or of boredom that caused the attention of managers to wander.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“You don’t have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“What counts for most people in investing is not how much they know, but rather how realistically they define what they don't know.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
“Culture, more than rule books, determines how an organization behaves.”
― Warren Buffett, quote from The Essays of Warren Buffett: Lessons for Corporate America
Warren Buffett
Born place: in Omaha, Nebraska, The United States
Born date August 30, 1930
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“I was always fishing for something on the radio. Just like trains and bells, it was part of the soundtrack of my life. I moved the dial up and down and Roy Orbison's voice came blasting out of the small speakers. His new song, "Running Scared," exploded into the room.
Orbison, though, transcended all the genres - folk, country, rock and roll or just about anything. His stuff mixed all the styles and some that hadn't even been invented yet. He could sound mean and nasty on one line and then sing in a falsetto voice like Frankie Valli in the next. With Roy, you didn't know if you were listening to mariachi or opera. He kept you on your toes. With him, it was all about fat and blood. He sounded like he was singing from an Olympian mountaintop and he meant business. One of his previous songs, "Ooby Dooby" was deceptively simple, but Roy had progressed. He was now singing his compositions in three or four octaves that made you want to drive your car over a cliff. He sang like a professional criminal. Typically, he'd start out in some low, barely audible range, stay there a while and then astonishingly slip into histrionics. His voice could jar a corpse, always leave you muttring to yourself something like, "Man, I don't believe it." His songs had songs within songs. They shifted from major to minor key without any logic. Orbison was deadly serious - no pollywog and no fledgling juvenile. There wasn't anything else on the radio like him.”
― Bob Dylan, quote from Chronicles, Volume One
“This account of him [Thomas More] developed as I wrote: what first attracted me was a person who could not be accused of any incapacity for life, who indeed seized life in great variety and almost greedy quantities, who nevertheless found something in himself without which life was valueless and when that was denied him was able to grasp his death.”
― Robert Bolt, quote from A Man for All Seasons
“Not for the first time in my life, and certainly not for the last, a self-righteous gloom had edged out all semblance of logic. ”
― Nick Hornby, quote from Fever Pitch
“Sleep democratizes fear. The terror of a lost shoe or a missed train are as great here as those of guerrilla attack or nuclear war.”
― Julian Barnes, quote from A History of the World in 10½ Chapters
“Life could not be entirely devoted to debauchery and monkeys. Magnus had to finance all the drinking somehow.”
― Cassandra Clare, quote from What Really Happened in Peru
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