On Life Chains of habit are too light to be felt until they are too heavy to be broken. Source: Buffett Wharton Speech, October 10, 2003 On Economy Like virginity, a stable price level seems capable of maintenance, but not of restoration. Source: Berkshire Hathaway Letters to Shareholders, 1981 [Economic] Forecasts usually tell us more of the […]
Category: Buffett Quotes
Buffett on gambling industry
Q: Your opinion of the gambling industry? I don’t know about which stocks to recommend, but, as long as we’re talking about the legal ones, gambling companies will have a perfectly good future. The desire of people to gamble is very high, including in stocks. Day trading comes very close to gambling. People like to […]
Quotes on shorting stocks
Charlie and I have agreed on around 100 stocks over the years that we thought were shorts or promotions. Had we acted on them, we might have lost all of our money, every though we were right just about every time. A bubble plays on human nature. Nobody knows when it’s going to pop, or […]
Quotes on EMT
Buffett quotes on Efficient Market Theory (EMT), The market is generally fairly efficient in evaluating asset classes, but not always efficient in valuing specific businesses. Source: BRK Annual Meeting 1999 ———————– [My experience] has given me a jaundiced view of academia generally. Efficient market theory—that everything is priced appropriately—is bunk. There’s a certain degree to […]
Buffett quotes on stock valuation
How we value a business is what the game is all about. If you cannot value a business, you cannot value a stock. Source: BRK Annual Meeting 2001
Buffett Quotes on Good Business
1. Good businesses are difficult to knock off Snickers has been the #1 candy bar for the past 40 years. If you gave me $1 billion to knock off Snickers, I can’t do it. That’s the test of a good business. You don’t knock off Coke or Gilette. Richard Branson is a marketing genius. He […]