Quotes of All Topics . Occasions . Authors
The people of the United States will not tolerate another deep depression that arises not from any lack of natural resources, productive capacity or man and brain power, but solely from imperfections in the functioning of the system of finance capitalism.
In fact, batteries haven't improved over the last 100 years as much as they would need to in order to make that happen. So I'm invested in a lot of battery companies - and there's a lot that exists I'm not in. They're all having a tough time achieving it.
The scientific understanding of some of these [childhood] diseases is advancing quite rapidly. There's some things like premature birth or nutrition, first day deaths that we need a lot more insights so that we can build the tools to solve those problems.
They are desperate for surrogates to get behind Trump, and they can't find anyone who has actually had genuine success who is willing to stand behind him. That is because he is all smoke and mirrors. We know he doesn't have all the money he claims he has.
It's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.
The other boys at Yale came from wealthy families, and none of them were investing outside the United States, and I thought, 'That is very egotistical. Why be so shortsighted or near-sighted as to focus only on America? Shouldn't you be more open-minded?'
There is nothing more exciting than playing in a building with the college vibe. It's something that I wanted to be a part of. This doesn't exist anywhere else in the league. It's a great tool to help us keep great players and bring in incredible players.
Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the percent we own marketable securities or things for which there are market, even if those markets - I want to tell them what it's all about.
It's not easy to remember, but IBM was the computer industry when I was growing up. You loved 'em. You hated 'em. You knew what they were doing. They had set a standard for mainframes. They also set a standard for great sales focus and heavy product R & D.
During the past two centuries, innovation has more than doubled our life span and given us cheap energy and more food. If we project what the world will be like 10 years from now without continuing innovation in health, energy or food, the picture is dark.
Something like Windows is still an unbelievable asset but because the world is somewhat phone-centric, it's an asset that has to be managed very carefully to make sure that it's extended, and there are very interesting things that are being done with that.
We have moved from treating funds as investment trusts designed to serve their owner-beneficiaries to treating funds as consumer products, designed to attract the largest possible assets. This new approach has ill-served the interests of fund shareholders.
It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?
You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.
If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.
I’ve been waiting more than 30 years to say this: “Dad, I always told you I’d come back and get my degree.” I want to thank Harvard for this timely honor. I’ll be changing my job next year … and it will be nice to finally have a college degree on my resume.
Some societies are also more optimistic than others: the U.S. and Australia are my two picks Tell a European you think there’s a housing bubble and you’ll have a reasonable discussion. Tell an Australian and you’ll have World War III. Been there, done that!
I don't think there is a sound UK bank now, at least, if there is one I don't know about it. The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the West? You don't need London.
I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama, who basically doesn't care about piling up debt.
The reason I am so negative about the Federal Reserve's policies is that they only target core inflation and argue that they can't identify bubbles, but when each bubble bursts, they flood the system with liquidity that brings about unintended consequences.
First, in order to build a business, you have to be able to sell because Sales = Income. When income is lacking, it's usually because the owner doesn't like to, doesn't know how to, or is simply reluctant to sell. Without sales, however, you have no income.
[Warren Buffett ] met with all sorts of different groups about a lot of different things, but yes, he took the time, he listened and he wanted to understand about some of the different diseases and the strength of the American role in doing all these things.
Take agriculture, where we haven't done much, or sanitation; saying, "okay, we will be able to make a really huge effort there." It really energized the foundation and half of what we've gotten done in this last decade is because Warren [Buffett] trusted us.
Happiness comes from spiritual wealth, not material wealth... Happiness comes from giving, not getting. If we try hard to bring happiness to others, we cannot stop it from coming to us also. To get joy, we must give it, and to keep joy, we must scatter it. .
An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.
When 40 billion of treasury bills are sold like, seven day treasury bills, at a yield of 1/20th of one percent, that means the whole country is basically at the point virtually, or a lot of the country is at the point of putting the money under the mattress.
The only way to get love is to be lovable. It's very irritating if you have a lot of money. You'd like to think you could write a check: "I'll buy a million dollars' worth of love." But it doesn't work that way. The more you give love away, the more you get.
The only way to get love is to be lovable. It's very irritating if you have a lot of money. You'd like to think you could write a check: 'I'll buy a million dollars' worth of love.' But it doesn't work that way. The more you give love away, the more you get.
Having kids has been a fantastic thing for me. It's meant that I'm a little more balanced. In my twenties I worked massively, hardly took vacation at all. Now, I, with the help of my wife, I'm always making sure I've got a good balance of how I spend my time.
Security is, I would say, our top priority because for all the exciting things you will be able to do with computers - organizing your lives, staying in touch with people, being creative - if we don't solve these security problems, then people will hold back.
So we can simulate Richter-10 earthquakes. We simulate 70-foot waves coming into these things. Very cool. We basically say no human should ever be required to do anything, because if you judge by Chernobyl and Fukushima, the human element is not on your side.
To create a new standard it takes something that's not just a little bit different. It takes something that's really new and really captures people's imagination. And the Macintosh, of all the machines I've ever seen, is the only one that meets that standard.
If we [the USA] don't innovate in education, it's literally going to mean less people get to go have that education at a time when more people are going to want it. We've got to put courses out on the Web, we've got to put interactive learning out on the Web.
It's very difficult, I would imagine, to distinguish father and daughter. And maybe some of it comes as I'm doing my thing and my father being a very strong political African figure for so many years. Whatever he does is almost like some kind of cloud on top.
You don't get rewarded for taking risk; you get rewarded for buying cheap assets. And if the assets you bought got pushed up in price simply because they were risky, then you are not going to be rewarded for taking a risk; you are going to be punished for it.
The language "it's too late" is very unsuitable for most environmental issues. It's too late for the dodo and for people who've starved to death already, but it's not too late to prevent an even bigger crisis. The sooner we act on the environment, the better.
The language 'It's too late' is very unsuitable for most environmental issues. It's too late for the dodo and for people who've starved to death already, but it's not too late to prevent an even bigger crisis. The sooner we act on the environment, the better.
The mistakes we make as investors is when the market's going up, we think it's going to go up forever. When the market goes down, we think it's going to go down forever. Neither of those things actually happen. Doesn't do anything forever. It's by the moment.
The driving force of any profession includes not only the special knowledge, skills and standards that it demands, but the duty to serve responsibly, selflessly and wisely, and to establish an inherently ethical relationship between professionals and society.
I asked him what he wanted to do for his career, and he replied that he wanted to go into a particular field, but thought he should work for McKinsey for a few years first to add to his resume. To me that's like saving sex for your old age. It makes no sense.
There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there's one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.
The most meaningful way to differentiate your company from your competitors, the best way to put distance between you and the crowd is to do an outstanding job with information. How you gather, manage and use information will determine whether you win or lose.
If you have 50 different plug types, appliances wouldn't be available and would be very expensive. But once an electric outlet becomes standardized, many companies can design appliances, and competition ensues, creating variety and better prices for consumers.
I think the thing we see is that as people are using video games more, they tend to watch passive TV a bit less. And so using the PC for the Internet, playing video games, is starting to cut into the rather unbelievable amount of time people spend watching TV.
To create a new standard, it takes something that's not just a little bit different; it takes something that's really new and really captures people's imagination, and the Macintosh, of all the machines I've ever seen, is the only one that meets that standard.
We only want to link up with people whom we like, admire, and trust. ... We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.
Software is different than other products um, partly because it's, it's not physical and, and partly because of its complexity. You can express in software millions of different cases and making sure that you handle all of them correctly is extremely difficult.
The way to be successful in the software world is to come up with breakthrough software, and so whether it's Microsoft Office or Windows, its pushing that forward. New ideas, surprising the marketplace, so good engineering and good business are one in the same.
When you write a piece of software you assume a certain type of hardware. If you assume hardware that's too powerful then you can't sell many copies cause very few people have that machine. If you assume hardware that's too simple your product can't do as much.