Quote

It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Years
Sells
Investment
Rate
Build
Preferred
Minutes
Stock
Takes
Bank
Five
Convince
Interest
Sell

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The woman that comes in, takes the wastebasket away, she's paying 15.3 or whatever it is on payroll tax alone. I mean it is - I never had it so good.
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When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
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The financial calculus that Charlie and I employ would never permit our trading a good night's sleep for a shot at a few extra percentage points of return. I've never believed in risking what my friends and family have and need in order to pursue what they don't have and don't need.
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I am a better investor because I am a businessman, and a better businessman because I am no investor.
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Investing is forgoing consumption now in order to have the ability to consume more at a later date.
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Let blockheads read what blockheads wrote.
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I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing.
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Asset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
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I wouldn’t mind going to jail if I had three cellmates who played bridge
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Inflation could be a very - is a likely consequence out of what's going on now.
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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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Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.
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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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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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I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the finanical system to let me do what I love doing-and make a lot of money doing it. The least I can do is help pay for all that.
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Cash combined with courage in a time of crisis is priceless.
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The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.
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You could be somewhere where the mail was delayed three weeks and do just fine investing.
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The best education you can get is investing in yourself, and that doesn't mean college or university.
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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.
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