“What's fascinating . . .is that you could now have a business that might have been selling for $10 billion where the business itself could probably not have borrowed even $100 million. But the owners of that business, because its public, could borrow many billions of dollars on their little pieces of paper- because they had these market valuations. But as a private business, the company itself couldn't borrow even 1/20th of what the individuals could borrow.”
Wise feeling
Wise Quotes — page 232 of 916
“Over the very long term, history shows that the chances of any business surviving in a manner agreeable to a company's owners are slim at best.”
“It's in the nature of stock markets to go way down from time to time. There's no system to avoid bad markets. You can't do it unless you try to time the market, which is a seriously dumb thing to do. Conservative investing with steady savings without expecting miracles is the way to go.”
“The tax code gives you an enormous advantage if you can find some things you can just sit with.”
“Forgetting your mistakes is a terrible error if you are trying to improve your cognition.”
“A lot of people think if you just had more process and more compliance -- checks and doublechecks and so forth -- you could create a better result in the world. Well, Berkshire has had practically no process. We had hardly any internal auditing until they forced it on us. We just try to operate in a seamless web of deserved trust and be careful whom we trust.”
“You cannot plant greatness as you plant yams or maize. Who ever planted an iroko tree — the greatest tree in the forest? You may collect all the iroko seeds in the world, open the soil and put them there. It will be in vain. The great tree chooses where to grow and we find it there, so it is with the greatness in men.”
“Directing is more like you're being a psychologist and you're kind of analyzing the situation and evaluating each person for their idiosyncrasies.”
“The Superior Man is aware of Righteousness, the inferior man is aware of advantage.”
“When you see a good man, try to emulate his example, and when you see a bad man, search yourself for his faults.”
“You turn the handle the way it goes, not the way it ought to go”
“Rotten wood cannot be carved.”
“Wisdom delights in water; love delights in hills. Wisdom is stirring; love is quiet. Wisdom is merry; love grows old.”
“I used to think then that I was Bohemian, but I know now that I am not. I prefer order and precision to untidiness and looseness.”
“The world of knowledge takes a crazy turn When teachers themselves are taught to learn.”
“To me, ultimately, martial arts means honestly expressing yourself.”
“The best way of leading people is to let them find their own way.”
“It is always easy to be logical. It is almost impossible to be logical to the bitter end.”
“One might think, that a period which, within fifty years, uproots, enslaves or kills seventy million human beings, should only, and forthwith, be condemned. But also its guilt must be understood.”
“Real sign of intelligence isn't knoweldge, it's imagination”