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This economy doesn't work well without the lubrication of credit and trust.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Well
Work
Lubrication
Credit
Trust
Economy
Doesn
Wells
Without

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I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20.
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I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.
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Money is not everything. Make sure you earn a lot before speaking such nonsense.
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You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
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I make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.
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In the business world, the rearview mirror is always clearer than the windshield.
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It is better to point out your own mistakes than have somebody else do it.
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Basically, the single-most important decision in evaluating a business is pricing power.
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If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.
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You can't make a good deal with a bad person.
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I'm not worried they're all about the investments we make. I mean, listen, this country - we've got $46,000 or $47,000 of GDP per capita. Now, we've done pretty darn well. We'll do better in the future.
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Investing is simple, but not easy.
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I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.
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Buy into a company because you want to own it, not because you want the stock to go up.
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You can't produce a baby in one month by getting nine women pregnant.
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The first rule is not to lose. The second rule is not to forget the first rule.
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We do not have, nor have had, and never will have an opinion about where the stock market, interest rates, or business activity will be a year from now.
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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.
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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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Goldman Sachs saying they might be interested in such an investment. I'm familiar with the company. I've known the management, the current management, Jack Welch before Jeff Immelt. I've known him for decades.
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