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The nature of democracy is such that when there's - there'll be revulsion, obviously, towards - that's never going to happen again.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Happen
Nature
Happens
Going
Never
Revulsion
Obviously
Towards
Democracy

More quotes by Warren Buffett

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I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.
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I like to buy things I can understand. I do a lot of research on things.
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I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.
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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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Take Wrigley's Chewing Gum. I don't think the Internet is going to change how people chew gum.
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We're still in a recession. We're not gonna be out of it for a while, but we will get out.
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Either they're trying to con you or they're trying to con themselves.
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Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a prospective owner.
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Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.
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The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
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Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.
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The typical large company has a compensation committee, They don't look for Dobermans on that committee, they look for chihuahuas.
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When the president of the United States goes out at, you know, 8:00 o'clock in the morning and then his own party votes gets him 2 to 1 in the house, you know that somehow a message isn't getting out. It takes real leadership.
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For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
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It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.
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The reaction of weak management to weak operations is often weak accounting.
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As far as you are concerned, the stock market does not exist. Ignore it.
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It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of that so as to produce kind of smooth, regular earnings from a very large base to start with.
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If you can eliminate the government as a 39.6% partner, then you will be much better off.
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