Share Mimicking the Herd Mimicking the herd invites regression to the mean. Related Topics: herd, invites, mean, mimicking, regression, regression to the mean Investing 3
Share Eggs in One Basket Investors can have 90% of their wealth in a single company, if it is the right company. Related Topics: company, investors, ninety, right, single, wealth Investing 3
Share Reading and Thinking We both, Warren Buffett and I, insist on a lot of time being available almost every day to just sit...Read More Related Topics: available, every day, insist, read, sit, think, time, Warren Buffet Discipline Every Day Growth Investing Learning Reading Self Development 5
Share Good Ideas Are Hard to Find Our cash is speaking for itself. If we had a lot of wonderful ideas, we wouldn’t have so much cash. Related Topics: cash, ideas, speaking, wonderful Investing 3
Share Good vs. Bad Investment Ideas Benjamin Graham used to say, “It’s not the bad investment ideas that fail; it’s the good ideas that get pushed...Read More Related Topics: bad, Benjamin Graham, excess, fail, good, ideas, investment, pushed Investing 2
Share Margin of Safety In engineering, people have a big margin of safety. But in the financial world, people don’t give a damn about...Read More Related Topics: accounting, balloon, big, don't give a damn, engineering, false, financial, give a damn, margin, people, safety, world Investing 2
Share Competition in Investing The investment game is getting more and more competitive. Related Topics: competitive, game, investment, investment game, more Investing 2
Share Being a Good Investor Understanding how to be a good investor makes you a better business manager and vice versa. Related Topics: better, business, good, how, investor, manager, understanding, vice versa Investing 1
Share Make the Market Your Servant The idea of a margin of safety, a Graham precept, will never be obsolete. The idea of making the market...Read More Related Topics: Benjamin Graham, idea, margin, margin of safety, market, never, obsolete, precept, safety, servant Investing 2
Share Modern Portfolio Theory Beta and modern portfolio theory and the like — none of it makes any sense to me. Related Topics: any, beta, like, makes, modern, non, portfolio, sense, theory Investing 1
Share No Big Advantages We don’t have big advantages — no special competence — so we spend almost no time on it. Related Topics: advantages, big, competence, special, time Business Investing 2
Share Charlie and Warren I’ve been associated with Warren so long, I thought I’d be just a footnote. Related Topics: associated, footnote, Warren Buffett Business Friendship Investing Partnership Relationships 0
Share Buying Lots of Things We tend to buy things — a lot of things — where we don’t know exactly what will happen, but...Read More Related Topics: buy, decent, exactly, happen, outcome, tend, things Investing 1
Share Discounted Cash Flows Warren talks about these discounted cash flows. I’ve never seen him do one. Related Topics: cash, discounted, discounted cash flows, talks, Warren Buffett Investing 1
Share Difficulty in Investing Why should it be easy to do something that, if done well, two or three times, will make your family...Read More Related Topics: easy, family, life, rich, something, three, times, two, wealthy, why Investing 3
Share Numerical Fluency Without numerical fluency, in the part of life most of us inhabit, you are like a one-legged man in an...Read More Related Topics: ass-kicking contest, fluency, inhabit, life, like, numerical, one-legged man Business Investing 2
Share Good vs. Bad Ideas It’s not the bad ideas that do you in, but the good ones. Related Topics: bad ideas, good, ideas Business Investing 1
Share Cranky Businesses A lot of the businesses we buy at Berkshire Hathaway are kind of cranky and old-fashioned like us. Related Topics: Berkshire Hathaway, businesses, buy, cranky, old-fashioned Investing 1
Share How to Succeed in Investing You need patience, discipline, and an ability to take losses and adversity without going crazy. Related Topics: ability, adversity, crazy, discipline, going crazy, losses, need, patience, take losses Attitude Investing 1
Share Closet Indexing [With] closet indexing you’re paying a manager a fortune and he has 85% of his assets invested parallel to the...Read More Related Topics: assets, closet, fortune, indexing, invested, manager, parallel, paying, played, sucker, system Investing 1
Share The Queen of Soft Sciences Economics is in many respects the queen of the soft sciences. It’s expected to be better than the rest. It’s...Read More Related Topics: better, economics, expected, multi-disciplinary, queen, respects, rest, sciences, soft, stuff, view Investing 1
Share Be Aggressive When It’s Time Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time. Related Topics: aggressive, fretful, means, patient, people, success, time, worry Investing 2
Share Have Passion for Something You’ll do better if you have passion for something in which you have aptitude. If Warren Buffett had gone into...Read More Related Topics: aptitude, ballet, better, heard, passion, something, Warren Buffett Funny Humor Investing Witty 1
Share Predicting the Future We have the same problem as everyone else: It’s very hard to predict the future. Related Topics: everyone, future, hard, predict, predict the future, problem, same Investing 1
Share Charlie Munger’s Education To this day, I have never taken a course anywhere, in chemistry, economics, psychology, or business. Related Topics: business, chemistry, course, economics, psychology Business Investing 1
Share Choosing Easy Predictions We’re the tortoise that has outrun the hare because it chose the easy predictions. Related Topics: chose, easy, hare, outrun, predictions, tortoise Investing 0
Share Dampen Investment Expectations One of the smartest things a person can do is dampen investment expectations, especially with Berkshire. That would be mature...Read More Related Topics: Berkshire Hathaway, dampen, expectations, investment, mature, person, responsible, smartest, things Investing 0
Share Inflation in the Investment Climate I remember the $0.05 hamburger and a $0.40-per-hour minimum wage, so I’ve seen a tremendous amount of inflation in my...Read More Related Topics: climate, hamburger, inflation, investment, lifetime, minimum, minimum wage, per-hour, remember, ruin, think, tremendous, wage Investing 0
Share Share Buybacks A lot of share-buying, not bargain-seeking, is designed to prop stock prices up. Related Topics: aggressively, bargain-seeking, buying, companies, designed, forty, look, motivated, prices, profitable, prop, share-buying, shares, simply, stock, thirty, worth Investing 0
Share Eliminate What Not to Do Quickly eliminate the big universe of what not to do, follow up with a fluent, multidisciplinary attack on what remains,...Read More Related Topics: act decisively, appear, attack, big, circumstances, eliminate, fluent, follow up, multidisciplinary, quickly, remains, right, universe Business Investing Life's Rules Productivity 0
Share When Decisions Are Too Hard We just throw some decisions into the “too hard” file and go onto others. Related Topics: decisions, file, throw Investing 0
Share Sit-on-Your-Ass Investing Sit-on-your-ass-investing: You’re paying less to brokers, you’re listening to less nonsense, and if it works, the tax system gives you...Read More Related Topics: ass, brokers, investing, less, listening, nonsense, one, paying, per annum, points, sit, stock brokers, tax system, three, two, works Investing R-rated 1
Share More Brains in Money Management It’s natural that you’d have more brains going into money management. There are so many huge incomes in money management...Read More Related Topics: banking, brains, huge, incomes, investment, investment banking, money management, more, natural Business Investing Money Management 0
Share Valuing a Stock You must value the business in order to value the stock. Related Topics: business, stock, value Business Investing 0
Share The Expectations Game What we don’t like in modern capitalism is the expectations game. It’s not the kissing cousin of evil; it’s the...Read More Related Topics: blood brother, capitalism, evil, expectations, game, kissing cousin, modern Investing 0
Share Terrible Investors A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. And that is why we...Read More Related Topics: ability, brains, certain, control, discipline, emotion, high, important, investors, IQs, irrational, kind, patience, people, raw, temperaments, terrible Investing 0
Share Comparing Companies If all you needed to do is to figure out what company is better than others, everyone would make a...Read More Related Topics: better, case, change, company, everyone, figure out, money, odds, others, point, prices, raising Investing 0
Share Slow Learners After nearly making a terrible mistake not buying See’s, we’ve made this mistake many times. We are apparently slow learners. Related Topics: apparently, buying, making, many, mistake, nearly, slow learners, terrible, times Investing 0
Share Troubled by the Twin Deficits I still prefer this country, and so does Warren. But we’re both troubled deeply by the twin deficits [trade and...Read More Related Topics: both, budget, country, deeply, deficits, prefer, still, trade, troubled, twin, Warren Buffett Investing 0
Share Buying Coke It took us months of buying all the Coke stock we could to accumulate $1 billion worth — equal to...Read More Related Topics: accumulate, billion, buying, Coke, major, months, positions, seven, stock, worth Investing 0
Share Betting on Sure Things Berkshire in its history has made money betting on sure things. Related Topics: Berkshire Hathaway, betting, history, money, sure, things Investing 0
Share Getting Out of the Country Club If you, like me, lived through 1973-74 or even the early 1990s… There was a waiting list to get OUT...Read More Related Topics: 1973, 1974, 1990s, country club, list, live, lived, waiting, waiting list Investing 0
Share The Big Money Is in the Waiting The big money is not in the buying and selling. But in the waiting. Related Topics: big, buying, money, selling, waiting Investing 0
Share Missing Out on Opportunity Missing out on some opportunity never bothers us. What’s wrong with someone getting a little richer than you? It’s crazy...Read More Related Topics: bothers, crazy, missing, missing out, opportunity, worry, wrong Attitude Investing 0
Share A Contributor to Capitalism I think the notion that liquidity of tradable common stock is a great contributor to capitalism is mostly twaddle. The...Read More Related Topics: booms, capitalism, common, common stock, contributor, crazy, great, liquidity, many, notion, problems, stock, think, tradable, twaddle, virtues Investing 0
Share Value of Net Dividends The total amount paid out in dividends is roughly equal to the amount lost in trading and investment advice, so...Read More Related Topics: advice, amount, dividends, equal, investment, lost, paid, shareholders, total, trading, zero Investing 0
Share You’re Not Smart Enough A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so...Read More Related Topics: correspondent, explanation, foreign, foreign correspondent, smart, talking Investing 0
Share Fretting Earlier We fret way earlier than other people. We left a lot of money on the table through early fretting. It’s...Read More Related Topics: fret, fretting, left, live, live with it, money, other, people, table Attitude Business Investing 0
Share Using Capital Strength Our record in the past if you average it out has been quite respectable. Why shouldn’t we use our capital...Read More Related Topics: average, capital, record, respectable, strength, why Investing 0
Share Being Short in a Rising Market Being short and seeing a promoter take the stock up is very irritating. It’s not worth it to have that...Read More Related Topics: irritating, irritation, life, not worth it, promoter, seeing, short, stock, take, worth Investing 1