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There's not many businesses where someone can come in and offer to cut the price in half and somebody doesn't think about shifting. But that's the nature of the ratings business.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Many
Cutting
Think
Somebody
Ratings
Thinking
Half
Rating
Business
Shifting
Doesn
Businesses
Nature
Offer
Someone
Price
Come
Offers

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You only have to do a very few things right in your life so long as you don't do too many things wrong.
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It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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When the brothel burns down, even the pretty girls have to run out.
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We have embraced the 21st century by entering such cutting-edge industries as brick, carpet, insulation and paint. Try to control your excitement.
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Benign neglect, bordering on sloth, remains the hallmark of our investment process.
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We have a country where I don't know whether it's a million households a year or more, but good form.
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You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.
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Our marketable equities tell us by their operating results - not by their daily, or even yearly, price quotations - whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it.
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We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
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We can afford to lose money - even a lot of money. But we can't afford to lose reputation - even a shred of reputation.
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Time is the friend of the wonderful company, the enemy of the mediocre.
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My father was the best person i've ever known.
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We are trading away a little bit of our country all the time for this access consumption that we have over what we've produced. That is not good. I think it's terrible over time. But our country's productive grows enough so we actually can do that, and we'll still be better off. We just don't be as well off as if we hadn't done it.
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An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.
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