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There is no perfect mathematical formula for pricing a business.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Business
Pricing
Formula
Formulas
Mathematical
Perfect

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An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.
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You can be sure that over the next 10 years, you'll see something that you did not think was possible.
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Valuing a business is part art and part science.
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We would do best in a market where everyone acted foolishly.
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The truth is, everything that has happened in my life... that I thought was a crushing event at the time, has turned out for the better.
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You get in a lot of trouble when you start putting fictitious numbers.
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When they get their ego involved, people do things they shouldn't do.
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When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.
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People should always know better.
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Activity is the enemy of investment returns.
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We do not view the company itself as the ultimate owner of our business assets but instead view the company as a conduit through which our shareholders own assets.
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You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.
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If you don't make mistakes you can't make decisions.
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Either they're trying to con you or they're trying to con themselves.
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If at first you do succeed, quit trying on investing.
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America should stand for more than just wealth.
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I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board.
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If you want to shoot rare, fast-moving elephants, you should always carry a loaded gun.
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Only when the tide goes out do you discover who's been swimming naked.
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Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics.
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