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The dominant factors affecting control valuations are earning power (past and prospective) and asset values.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Earning
Dominant
Assets
Factors
Valuations
Control
Prospective
Values
Valuation
Past
Affecting
Power
Asset

More quotes by Warren Buffett

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What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.
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Like I say, I don't think it'll be done perfectly. Maybe we'll end up with a little bit better [economy] system.
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I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.
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Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
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In earlier years, a lesser effort produced literally dozens of comparable opportunities. It is difficult to be objective about the causes for such diminution of one's own productivity. Three factors that seem apparent are: (1) a somewhat changed market environment (2) our increased size and (3) substantially more competition.
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Nevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results.
Warren Buffett
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I was lucky to have the right heroes. Tell me who your heroes are and I'll tell you how you'll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming.
Warren Buffett
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The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
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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.
Warren Buffett
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Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.
Warren Buffett
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The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves - and the better the teacher, the better the student body.
Warren Buffett
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In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.
Warren Buffett
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Energy deregulation will be the largest transfer of wealth in history.
Warren Buffett
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I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Warren Buffett
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You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.
Warren Buffett
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Forecasts usually tell us more of the forecaster than of the forecast
Warren Buffett
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Money is not everything. Make sure you earn a lot before speaking such nonsense.
Warren Buffett
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Writing checks to the IRS that include strings of zeros does not bother me ... Overall, we feel extraordinarily lucky to have been dealt a hand in life that enables us to write large checks to the government rather than one requiring the government to regularly write checks to us-say, because we are disabled or unemployed.
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I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.
Warren Buffett
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It is more important to say no to an opportunity, than to say yes.
Warren Buffett