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Is management rational?

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Management
Investing
Rational

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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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If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.
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The power of unconditional love. I mean, there is no power on earth like unconditional love.
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I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent.
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Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like.
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He must never forget Charlie's plea: Tell me where I'm going to die, so I'll never go there.
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Activity is the enemy of investment returns.
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If past history was all there was to the game, the richest people would be librarians.
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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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The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.
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I want to be able to explain my mistakes. This means I do only the things I completely understand.
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There is no staff. I make all the investment decisions and I do all my own analysis.
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Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.
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I'm just lucky to have been in the right place at the right time. Another place, another time, I wouldn't have been as successful. Society enabled me to make my money and my money should go to society.
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