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A very rich person should leave his kids enough to do anything, but not enough to do nothing.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Kids
Anything
Persons
Person
Nothing
Buffets
Enough
Investing
Children
Leave
Rich

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If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game.
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What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.
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The patient that's on the floor with the cardiac arrest is not Wall Street. It's the American economy.
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The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.
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Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
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There is nothing like writing to force you to think and get your thoughts straight.
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Somebody's buying these treasury bills at 1/20th of one percent. Consuming about $2 billion a day of goods and services beyond what we're producing. In other words, the rest of the world sends about $2 billion a day net of something.We got to send them something in return, don't we. So we send them little pieces of paper.
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Forecasts usually tell us more of the forecaster than of the forecast
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I certainly do believe anyone engaged in the management of money should have a standard of measurement, and that both he and the party whose money is managed should have a clear understanding why it is the appropriate standard, what time period should be utilized, etc.
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You can't help some increase from this point. I don't want any viewer to go away think a magic wand exists in Congress. So they're going to see some more bad news. But if we do this, we're doing the right thing.
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I think the oversight is great, and I think that oversight ought to be devoted almost entirely to the question is this being done at market you know. In other words, you want to make sure that the government isn't investing foolishly. But you don't want to care about which congressional districts it goes to or whether banks get favored over.
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Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
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So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.
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I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. You need to fill your mind with various competing thoughts and decide which make sense.
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There's not many businesses where someone can come in and offer to cut the price in half and somebody doesn't think about shifting. But that's the nature of the ratings business.
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We've got more productive capacity now than we ever have.
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Never depend on single income. Make investment to create a second source.
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Investing in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the cards.
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When you're associating with the people that you love, doing what you love, it doesn't get any better than that.
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