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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Trust
Inherited
Went
Savings
Company
Loan
Government
Assets
Resolution
Saving
Broke
Liquidate
Bunch
Loans

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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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Investing in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the cards.
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I can't promise results, but I can promise a common destiny.
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I always invest in companies an idiot could run, because one day one will.
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If I got a chance to take one percent of the deal either way, I would make that bet.
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Possessing a powerful worldwide brand is essential for sustained success.
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I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board.
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Bad terminology is the enemy of good thinking.
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
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Businesses always have opportunities to improve service, product lines, manufacturing techniques, and the like, and obviously these opportunities should be seized. But a business that constantly encounters major change also encounters many chances for major error
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The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.
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Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.
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Enjoy your work and work for whom you admire.
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If you don't make mistakes you can't make decisions.
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It is not necessary to do extraordinary things to get extraordinary results.
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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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AIG would be doing fine today. It was one of the ten largest companies in the United States in terms of market value, over 200 billion, the most respected insurer and everything in the world.
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The only question is whether you’re going to do it today or tomorrow. If you keep saying you’re going to do it tomorrow, you’ll never do it. You have to get on it today.
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