“If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%-or only 9.75% per year compounded. So the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening.”
Wise feeling
Wise Quotes — page 193 of 916
“Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that's the way we filter out buying opportunities.”
“The basic concept of value to a private owner and being motivated when you're buying and selling securities by reference to intrinsic value instead of price momentum - I don't think that will ever be outdated.”
“It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities.”
“Those who do not study are only cattle dressed up in men's clothes.”
“Never do to others what you would not like them to do to you.”
“The gentleman has nine cares. In seeing he is careful to see clearly; in hearing he is careful to hear distinctly; in his looks he is careful to be kind, in his manner to be respectful, in his words to be sincere, in his work to be diligent. When in doubt he is careful to ask for information; when angry he has a care for the consequences; and when he sees a chance for gain, he thinks carefully whether the pursuits of it would be right.”
“The one who was born a genius can't win against the one who tries, and the one who tries can't win against the one who enjoys.”
“What is most needed for learning is a humble mind.”
“In language clarity is everything.”
“Look closely into his aims, observe the means by which he pursues them, discover what brings him content - and can the man's real worth remain hidden from you?”
“In life you are given two ends; one to think with and the other to sit on. Your success in life depends on which end you use most. Heads you win, tails you lose.”
“The essence of the liberal outlook lies not in what opinions are held, but in how they are held; instead of being held dogmatically, they are held tentatively, and with a consciousness that new evidence may at any moment lead to their abandonment.”
“Passion is a young man's game. Young people can be passionate. Older people gotta be more wise. I mean, you're around awhile, you leave certain things to the young. Don't try to act like you're young. You could really hurt yourself.”
“Me is a common sense man. That mean when me explain things, me explain it in a very simple way; that mean if I explain it to a baby, the baby will understand too, you know.”
“Your outer world of attitudes, wealth, work, relationships and health will always be a reflection of your inner attitudes of mind.”
“Much brass has been sounded and many cymbals tinkled in the name of advertising; but the advertisements which persuade people to act are written by men who have an abiding respect for the intelligence of their readers, and a deep sincerity regarding the merits of the goods they have to sell.”
“The height of cultivation always runs to simplicity.”
“You and your opponent are one. There is a coexisting relationship between you. You coexist with your opponent and become his complement, absorbing his attack and using his force to overcome him.”
“Remember, you are expressing the techniques and not doing the techniques.”