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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“These are not soldiers, these are men. They are notadventurers or warriors, designed for human butchery - as butchers or cattle. They are the ploughmen or workers that one recognizes even in their uniforms. They are uprooted civilians. They are ready, waiting for the signal for death or murder, but when you examine their faces between the vertical ranks of bayonets, they are nothing but men.”
― Henri Barbusse, quote from Under Fire
“Yet none of these things gave him confidence. All they gave him was egotism, which is less the conviction of one's worth than the desire for that conviction.”
― Jetta Carleton, quote from The Moonflower Vine
“P3- neither the life of an individual nor the history off a society can be understood without understanding both”
― C. Wright Mills, quote from The Sociological Imagination
“You kids are handling this a whole lot better than he is.’
I wondered if that meant we were pretty darned tough.
Or whether we simply lacked the imagination to see how bad things really were”
― Mike A. Lancaster, quote from Human.4
“As far as food is concerned, the great extravagance is not caviar or truffles, but beef, pork and poultry. Some 38 percent of the world's grain crop is now fed to animals, as well as large quantities of soybeans. There are three times as many domestic animals on this planet as there are human beings. The combined weight of the world's 1.28 billion cattle alone exceeds that of the human population. While we look darkly at the number of babies being born in poorer parts of the world, we ignore the over-population of farm animals, to which we ourselves contribute...[t]hat, however, is only part of the damage done by the animals we deliberately breed. The energy intensive factory farming methods of the industrialised nations are responsible for the consumption of huge amounts of fossil fuels. Chemical fertilizers, used to grow the feed crops for cattle in feedlots and pigs and chickens kept indoors in sheds, produce nitrous oxide, another greenhouse gas. Then there is the loss of forests. Everywhere, forest-dwellers, both human and non-human, can be pushed out. Since 1960, 25 percent of the forests of Central America have been cleared for cattle. Once cleared, the poor soils will support grazing for a few years; then the graziers must move on. Shrub takes over the abandoned pasture, but the forest does not return. When the forests are cleared so the cattle can graze, billions of tons of carbon dioxide are released into the atmosphere. Finally, the world's cattle are thought to produce about 20 percent of the methane released into the atmosphere, and methane traps twenty-five times as much heat from the sun as carbon dioxide. Factory farm manure also produces methane because, unlike manured dropped naturally in the fields, it dies not decompose in the presence of oxygen. All of this amounts to a compelling reason...for a plant based diet.”
― Peter Singer, quote from Practical Ethics
What Happens Next
Deception
Insanity
Almost Home
Surrender
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