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Turnarounds seldom turn.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Turnaround
Seldom
Investing
Turn
Turns

More quotes by Warren Buffett

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Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked.
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The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.
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With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock
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The best thing I did was choose the right heroes.
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When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a break requires - now or down the line - that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can however, determine who pays for lunch.
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I like to buy things I can understand. I do a lot of research on things.
Warren Buffett
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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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Success is having people love you that you want to have love you.
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I never try to predict the market.
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I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.
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Does management resist the institutional imperative?
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The difference between successful people and really successful people is that really successful people say no to almost everything.
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I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?
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I've argued with the senators and congressmen I've talked to. You don't want to be too little too late. If you buy them at the right price, you may be buying two trillion of face value.
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You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map.
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My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.
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It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.
Warren Buffett
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Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.
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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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Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.
Warren Buffett