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Businesses always have opportunities to improve service, product lines, manufacturing techniques, and the like, and obviously these opportunities should be seized. But a business that constantly encounters major change also encounters many chances for major error

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
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Omaha
Nebraska
Warren Edward Buffett
Business
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Also
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Constantly
Improve
Many
Service
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Technique
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More quotes by Warren Buffett

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If anything, taxes for the lower and middle class and maybe even the upper-middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.
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In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'
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If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.
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Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich.
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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
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Focus on return on equity, not earnings per share.
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We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.
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Writing a check separates a commitment from a conversation.
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Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
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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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We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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Cash combined with courage in a time of crisis is priceless.
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I think what people understand there probably - well, they were hoping the private sector would do it [rescuing AIG ].
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Always invest for the long term.
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We would do best in a market where everyone acted foolishly.
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Does the business have a consistent operating history?
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Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life.
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Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.
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Of our 49 billion, we haven't moved any to Bitcoin
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There seems to be some perverse human characteristic that likes to make easy things difficult.
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