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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.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
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Omaha
Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett

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I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
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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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If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks more cheaply to your portfolio.
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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.
Warren Buffett
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In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.
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I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
Warren Buffett
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I look for businesses in which I think I can predict what they're going to look like in ten to fifteen years time. Take Wrigley's chewing gum. I don't think the internet is going to change how people chew gum.
Warren Buffett
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Investment ideas, like women are often more exciting than punctual.
Warren Buffett
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If a business does well, the stock eventually follows.
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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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My father was the best person i've ever known.
Warren Buffett
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I would say the most satisfying thing actually is watching my three children each pick up on their own interests and work many more hours per week than most people that have jobs at trying to intelligently give away that money in fields that they particularly care about.
Warren Buffett
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In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.
Warren Buffett
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I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today.
Warren Buffett
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But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things.
Warren Buffett
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Of our 49 billion, we haven't moved any to Bitcoin
Warren Buffett
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Confidence is key. You're not going to put your money - you're not going to leave your money with me unless you're confident I'm going to give it back to you.
Warren Buffett
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In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts the Depression a dozen or so recessions and financial panics oil shocks a flu epidemic and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
Warren Buffett
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I made my first investment at age eleven. I was wasting my life up until then.
Warren Buffett
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Do not put all your eggs in one basket.
Warren Buffett