"I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp."
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Quote collection
Warren Buffett quotes (page 40 of 48)
959 quotes — follow a thought to its full quote page.
"You pay a very high price in the stock market for a cheery consensus."
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"The single most important decision in evaluating a business is pricing power."
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"Personally, I really hope I can treat everyone equally. I think I have done a pretty good job so far but I know I can do it better."
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"I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing."
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"In the insurance business, there is no statute of limitation on stupidity."
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"The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind."
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"Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich."
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"After 25 years of buying and supervising a great variety of businesses, Charlie [Munger] and I have not learned how to solve difficult business problems. What we have learned is to avoid them. To the extent we have been successful, it is because we have concentrated on identifying one-foot hurdles that we could step over rather than because we acquired any ability to clear seven-footers."
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"Does the business have a consistent operating history?"
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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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"I have an 800 freephone number now that I call if I get the urge to buy an airline stock. I call at two in the morning and I say: "My name is Warren and I'm an aeroholic." And then they talk me down."
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"People always should know better. People don't get - they don't get smarter about things that get as basic as greed."
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"Confidence is key. You're not going to put your money - you're not going to leave your money with me unless you're confident I'm going to give it back to you."
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"You can't stand to see your neighbor getting rich. You know you're smarter than he is and he's doing these things and he's getting rich."
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"I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative."
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"People should always know better."
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"I mean, we'll be pounding on the guy's chest, you know, on the floor, and you know, he's not going to just jump up all of a sudden. So it makes it tough. I mean, it's tough to be in the legislature, you know, and vote for something and then people say, well, you voted all this money and you know, it's all getting spent. It isn't getting spent. It's getting invested. But it's all getting spent. Nothing's happening."
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"When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact."
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"This economy doesn't work well without the lubrication of credit and trust."
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