Warren Buffett - Berkshire Hathaway

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Last quote by Warren Buffett

I am lucky to be born where I was. I have been lucky with parents, lucky with all kinds of things and lucky to be wired in a way that in a market economy, pays off like crazy for me.feedback
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Nov 22 2017
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Warren Buffett is associated, including James, Muhtar, and success. Most recently, Warren Buffett has been quoted saying: “Being given unconditional love is the greatest benefit you can ever get. If you have a family that is totally alien, and I see that all the time, often in rich families, I don't see how you can be very happy. I'm already happy. I would be happy with, you know – certainly with $100,000 a year.” in the article This is the metric Warren Buffett uses to measure success (Hint: It's not money).
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Warren Buffett quotes

Nov 17 2017

Just bring a couple of spoons, and I'll have a little of everyone's.feedback

Nov 15 2017

Its much more fun achieving things in life with a partner.feedback

Nov 15 2017

I'm looking for a long-term relationship. I'm not looking for a one-night stand. I'm looking for a serious companion or soulmate, that kind of thing.feedback

Nov 15 2017

Read 500 pages like this every day. That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.feedback

Nov 14 2017

And they got that century out of the way, I hope.feedback

Nov 14 2017

IBM is a big strong company, but they've got big strong competitors, too.feedback

Nov 14 2017

You will move in the direction of the people that you associate with. You want to associate with people who are the kind of person you'd like to be.feedback

Nov 14 2017

That's remarkable. I was impressed with Jeff early. I never thought he could pull off what he did. I thought he could pull off something, but on the scale it happened, it's changed your behavior and it's changed everyone in the office's behavior. At the same time he's shaking up the whole retail world, he's also shaking up the IT world and I tip my hat off to him.feedback

Nov 14 2017

We haven't seen many businessmen like him. There are certain people you do not want to try to beat at their own game and certainly Jeff Bezos would be number one. It isn't that [Bezos has] gotten some breakthrough or found some molecule or come up with some incredible invention.feedback

Nov 14 2017

We have a lot of businesses ... I don't think any of them are non-competitive in the world because of the corporate tax rate.feedback

Nov 13 2017

Who you marry, which is the ultimate partnership, is enormously important in determining the happiness in your life and your success.feedback

Nov 10 2017

I always knew I was going to be rich. I don't think I ever doubted it for a minute.feedback

Nov 09 2017

Consistently buy an S&P 500 low-cost index fund. I think it's the thing that makes the most sense practically all of the time. Keep buying it through thick and thin, and especially through thin.feedback

Nov 08 2017

You will move in the direction of the people that you associate with, It's important to associate with people that are better than yourself.feedback

Nov 07 2017

The real problem, in my view, is – this has been – the prosperity has been unbelievable for the extremely rich people. If you go to 1982, when Forbes put on their first 400 list, those people had [a total of] $93 billion. They now have $2.4 trillion, [a multiple of] 25 for one. This has been a prosperity that's been disproportionately rewarding to the people on top.feedback

Nov 05 2017

When leverage works, it magnifies your gains. Your spouse thinks you're clever, and your neighbors get envious. But leverage is addictive. Once having profited from its wonders, very few people retreat to more conservative practices.feedback

Nov 05 2017

He simply got infatuated with how much money he could borrow, and he did not give enough thought to how much money he could pay back. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life.feedback

Nov 05 2017

Pick out associates whose behavior is better than yours, and you'll drift in that direction.feedback

Nov 05 2017

We don't do very many things, but when we get the chance to do something that's right and big, we've got to do it. And even to do it on a small scale is just as big a mistake almost as not doing it at all. You've really got to grab them when they come, because you're not going to get 500 great opportunities.feedback

Nov 03 2017

Ultimately, there's one investment that supersedes all others. Invest in yourself. Whatever you want to learn more, start doing it today. Don't put if off to your old age. You'll have a more rewarding life not only in terms of how much money you make, but how much fun you have out of life; you'll make more friends the more interesting person you are.feedback

Oct 25 2017

We sort of know it when we see it. It would tend to be a business that for one reason or another we can look out five or 10 or 20 years, and decide that the competitive advantage that it had at the present would last over that period.feedback

Oct 24 2017

I don't care where someone went to school, and that never caused me to hire anyone or buy a business. I didn't want to go to college.feedback

Oct 24 2017

We played on the bus while balancing cards on our knees.feedback

Oct 24 2017

I play a lot ... at least four sessions a week, about two hours a session. You can play a hand every six or seven minutes every day for the rest of your life, and you will never see the same hand. It's a game you can enjoy when you are in your 90s, and you are seeing a different intellectual challenge every seven minutes.feedback

Oct 18 2017

I was wrong … IBM is a big strong company, but they've got big strong competitors too. I don't value IBM the same way that I did six years ago when I started buying ... I've revalued it somewhat downward.feedback

Oct 18 2017

I don't value IBM the same way that I did six years ago when I started buying ... I've revalued it somewhat downward. When it got above $180 we actually sold a reasonable amount of stock.feedback

Oct 18 2017

Ken's been the gold standard for corporate leadership and the benchmark that I measure others against. He led the company through 9/11, the financial crisis and the challenges of the last couple of years.feedback

Oct 17 2017

Selling your winners and holding your losers is like cutting the flowers and watering the weeds.feedback

Oct 17 2017

I want to use a line from it in my year-end report. I have to have it. Can I please use it?feedback

Oct 11 2017

I think the Protege bet proved the point and has stimulated a re-evaluation of professional management. If I were to do another ten-year bet – and I regard that as the reasonable term for measurement – that would take me to 97 and not at the best point to write and talk about the results. There's no doubt in my mind, however, that the S&P 500 will do better than the great majority of professional managers achieve for their clients after fees.feedback

Oct 06 2017

You will move in the direction of the people that you associate with. It's important to associate with people that are better than yourself. Listen to your mother.feedback

Oct 05 2017

Every business student you have has the requisite intelligence and requisite energy. Integrity is not hard-wired into your DNA.feedback

Oct 05 2017

A student [of college age] can pretty much decide what kind a person they are going to be at sixty. If they don't have integrity [now], they never will. The chains of habit are sometimes too heavy to be broken. Students can forge their own chains.feedback

Oct 04 2017 - Inequality

If you go to 1982, when Forbes put on their first 400 list, those people had [a total of] $93 billion. They now have $2.4 trillion, [a multiple of] 25 for one. This has been a prosperity that's been disproportionately rewarding to the people on top.feedback

Oct 04 2017 - Inequality

But if they blow it all, that means that they've done some dumb things with some important resources. That's not good for capitalism I don't think it's good for the children. I sure don't think it's good for a society where there's a ton of inequality to start with. I think that's a terrible mistake. The real problem, in my view, is – this has been – the prosperity has been unbelievable for the extremely rich people.feedback

Oct 04 2017 - Inequality

I would be happy with, you know – certainly with $100,000 a year, I could be very happy.feedback

Oct 04 2017 - Inequality

Is that a great way to allocate resources in the United States?feedback

Oct 03 2017

Only enough to stay under 10 percent, which was something the Fed requires.feedback

Oct 03 2017 - Driverless cars

I was too dumb to realize. I did not think [Bezos] could success on the scale he has.feedback

Oct 03 2017 - Driverless cars

The company has a smart growth strategy in place and we look forward to a partnership that supports the trucking industry for years to come.feedback

Oct 03 2017 - North Korea

We got a fellow in North Korea [with a] very poor country, spending a way disproportionate amount of its GDP working on missiles that can hit California. That's crazy. Wish I had a solution for it, but I don't.feedback

Oct 03 2017

Passive investment in aggregate is going to beat active investment because of fees.feedback

Oct 03 2017

Somebody messed up, and the job is to find out who messed up.feedback

Oct 03 2017

We have a lot of businesses... I don't think any of them are non-competitive in the world because of the corporate tax rate.feedback

Oct 03 2017

It's an actual factor at Berkshire. And it's very, very, very seldom in my 87 years that it has ever been a factor.feedback

Oct 03 2017

I would think the Republicans controlling both houses [of Congress] and the presidency, they would not want to have a shutout, in their first year. I think they can get it done.feedback

Oct 02 2017 - World Happiness report

That's true obviously in marriage, I mean that's the most important decision that you make. Who you marry, which is the ultimate partnership, is enormously important in determining the happiness in your life and your success and I was lucky in that respect.feedback

Sep 29 2017 - Bitcoin

Bitcoin is not a currency.feedback

Sep 26 2017

It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.feedback

Sep 26 2017

If you cannot control your emotions, you cannot control your money.feedback

Sep 21 2017

Whenever I hear people talk pessimistically about this country, I think they're out of their mind. Being short America has been a loser's game. I predict to you it will continue to be a loser's game.feedback

Sep 20 2017 - Sex

We should start thinking about a sex change. You don't see any short sellers. It has been 241 years since Thomas Jefferson wrote the Declaration of Independence. Being short America has been a loser's game. I predict to you it will continue to be a loser's game.feedback

Sep 20 2017

When I hear talking about making it to 100, I get excited. I'm 87.feedback

Sep 20 2017

It's very hard to give numbers but... there were more total losses by quite a margin in Harvey than in Irma.feedback

Sep 20 2017

I would expect Congress not to get too far away from the American people.feedback

Sep 20 2017

I think she's remarkable. I think we've been very lucky to have a leader like her.feedback

Sep 19 2017

I then sat back and waited expectantly for a parade of fund managers ... to come forth and defend their occupation. After all, these managers urged others to bet billions on their abilities. Why should they fear putting a little of their own money on the line?feedback

Sep 12 2017

The ideal business is one that takes no capital, and yet grows.feedback

Sep 12 2017

I don't want a business that's easy for competitors. I want a business with a moat around it with a very valuable castle in the middle.feedback

Sep 08 2017

I think the answer is no on that.feedback

Sep 07 2017 - Bitcoin

Stay away from it. It's a mirage basically. It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money? Just because they can transmit money? I hope bitcoin becomes a better way to do it. But you can replicate it a bunch of different ways. The idea that it [bitcoin] has some huge intrinsic value is just a joke in my view.feedback

Sep 07 2017

I thought, This sounds too good to be true. I am a suspicious guy by nature, so she didn't sell me. It is run by a very special man, Cecil Williams. She took me there one time to Glide and I got to meet Cecil, I got to see what happened, the kind of people he was helping and how he was helping them.feedback

Sep 07 2017

It had about 110 or 20 white parishioners and Cecil was black, so the 120 went down very fast when he arrived there. And so he started from scratch and he built a remarkable church – but really a remarkable social organization. They really take people who have hit bottom and help bring 'em back. And he has been doing it for decades, and he's a remarkable man and if we can help out by raising some money for him, I enjoy doing it.feedback

Aug 30 2017 - Heinz

It does help to have a group of big powerful brands if you're negotiating with a big retailer, but what they really care about is the strength of the specific brand.feedback

Aug 30 2017

Consistently buy an S&P 500 low-cost index fund. I think it's the thing that makes the most sense practically all of the time.feedback

Aug 30 2017

The trick is not to pick the right company. The trick is to essentially buy all the big companies through the S&P 500 and to do it consistently and to do it in a very, very low cost way.feedback

Aug 30 2017 - Heinz

We will not make hostile takeover offers, and we did not intend that to be hostile. But it turned out it was, and we immediately – the next day when I learned about it – we called it off. It was a misunderstanding.feedback

Aug 30 2017 - Heinz

I think the answer is no on that. That doesn't really help you that much in the fight.feedback

Aug 30 2017

And then, I looked at it, and I bought considerably more.feedback

Aug 30 2017

What you find is there's never just one cockroach in the kitchen when you start looking around.feedback

Aug 30 2017

It's a terrific bank. There were some things that were done very wrong there but they are being corrected.feedback

Aug 30 2017

Anytime you put focus on an organization that has hundreds of thousands of people ... you may very well find that it wasn't just the one who misbehaved that you find out about.feedback

Aug 30 2017

I would guess we're in a 2 percent growth economy now. Every now and then we think it's accelerating. And every now and then that maybe there's a double dip or something. It just seems to be a couple of percent.feedback

Aug 29 2017

Berkshire is going to keep every share for a very long time.feedback

Aug 24 2017

We don't use leverage. We never had margin debt in the history of the firm.feedback

Aug 20 2017

I explained, they could tell their client they had wrung the last nickel out of me.feedback

Aug 12 2017

Bill, who would not otherwise have done so, said, I'll set up a fund, .feedback

Aug 12 2017

Bill ran Sequoia until roughly 2005 when he died. He did a fantastic job, and even now, if you take the record from the inception to now with the troubles they've had recently, I don't know a mutual fund in the United States with a better record. You won't find many records that go for 30 or 40 years that are better than the S&P.feedback

Aug 04 2017 - Microsoft

Every single action taken by your partner or your opponents, you have to keep drawing inferences from. They keep getting modified. It's a fascinating game. You are learning from every word spoken and not spoken.feedback

Aug 04 2017 - Microsoft

We were playing bridge while everyone was looking at the scenery. We played on the bus while balancing cards on our knees.feedback

Aug 04 2017 - Microsoft

I play a lot . . . at least four sessions a week, about two hours a session.feedback

Aug 04 2017 - Microsoft

Bill doesn't get a chance to play a lot. I spend way more time playing than Bill. He loves playing bridge. He likes to play in tournaments. But he has a way busier schedule than me. I had no business being in it at all. We were playing people not as good as Sharon was but a whole lot better than I was. I dropped out. I was on the board of USAir at the time, so I said I had to get back to a board meeting. This was not great behavior on my part. I love the game, but playing in tournaments is too many hours of concentration.feedback

Aug 04 2017 - Microsoft

I have played with him in Los Angeles. Charlie had a regular bridge game for 40 years.feedback

Aug 04 2017 - Microsoft

This was a hot subject at the time, with all those things on chess, IBM, Deep Blue. When I met Bill on July 5, 1991, I said to him, Will a computer be built that can beat the best bridge players?' Bill said a computer will win at chess eventually. But it won't win at bridge.feedback

Aug 04 2017 - Microsoft

I love the game, and I love my partner. She's a fabulous teacher, extremely smart and very patient. Bill said you've got to get a computer to do your income tax. It really is a game that you are never going to see the same hand twice. You can play a hand every six or seven minutes every day for the rest of your life and you will never see the same hand. It's a game you can enjoy when you are in your 90s, and you are seeing a different intellectual challenge every seven minutes. It's the best exercise there is for the brain.feedback

Aug 04 2017 - Microsoft

Before computers, I would have to get three, usually guys, and get them together in one place on a Saturday. There was a lot of physical arranging. With a computer, you can be playing in 15 seconds.feedback

Jul 27 2017

You're going to fail at something. Who cares?feedback

Jul 17 2017

If the board hires a compensation consultant after I'm gone, I will come back.feedback

Jul 11 2017

The difference between successful people and really successful people is that really successful people say 'No' to almost everything.feedback

Jul 11 2017

When the phone don't ring, you'll know it's me.feedback

Jul 10 2017

They went to Austin, said, We think you've got it right. The ring fence protected the company all these years. We'll accept it. We'll even expand it.' And they worked out a deal with the [Public Utilities Commission] staff, the Industrial Coalition, the Municipal Coalition and the Office of Public Utility Counsel, the main four interveners, and they cut a deal. And so they said, We'll take your ring fence, Texas. Elliott made it clear that they're happy to work with Berkshire Hathaway. They want to make sure they get the best value they can from Berkshire Hathaway.feedback

Jul 07 2017

When we invest in Texas, we invest big!feedback

Jul 07 2017

It's an all-in wager on the economic future of the United States. I love these bets.feedback

Jul 07 2017

We don't project a big debt bubble bursting any time soon (because of the balance sheet repairs that have taken place).feedback

Jul 07 2017

Most of you have never heard of Energy Future Holdings. Consider yourselves lucky; I certainly wish I hadn't.feedback

Jul 06 2017 - Facebook

I have no desire to get to work at four in the morning. I get quite a bit of sleep. I like to sleep. So I will usually sleep eight hours a night.feedback

Jun 30 2017

Banking is a very good business unless you do dumb things.feedback

Jun 30 2017

Be fearful when others are greedy and greedy when others are fearful.feedback

Jun 28 2017 - Bank of America

If the dividend rate on Bank of America common stock – now 30 cents annually – should rise above 44 cents before 2021, we would anticipate making a cashless exchange of our preferred into common.feedback

Jun 28 2017 - American politics

You could entitle this, you know, Relief for the Rich Act or something.feedback

Jun 28 2017

The truth is, I have got a lot of wealth, little pieces of paper [that say] Berkshire Hathaway on it. They are claim checks on all kinds of goods and services in the world. They can buy anything. I can buy 400-foot yachts and have 20 homes and all that. I wouldn't be happier.feedback

Jun 28 2017

But I should be. I mean, why in the hell – why should I be working at 86 at something that I don't like or with people I don't like?feedback

Jun 28 2017

I'm already happy. I would be happy with, you know – certainly with $100,000 a year, I could be very happy. I can buy anything, basically. I'm a trustee for that stock. So, it will go to society.feedback

Jun 28 2017

Once [the stocks] move into the hands of people who are working like hell on getting something accomplished in areas I want them to – you know, I love the idea of getting them used, and that's what they're doing.feedback

Jun 27 2017

They should just keep buying and buying and buying a little bit of America as they go along. And 30 or 40 years from now, they will have a lot of money.feedback

Jun 27 2017

And that's the problem that has to be addressed, because when you have something that's good for society, but terribly harmful for given individuals, we have got to make sure those individuals are taken care of.feedback

Jun 27 2017

The real problem, in my view, is – this has been – the prosperity has been unbelievable for the extremely rich people. If you go to 1982, when Forbes put on their first 400 list, those people had [a total of] $93 billion. They now they have $2.4 trillion, [a multiple of] 25 for one. This has been a prosperity that's been disproportionately rewarding to the people on top.feedback

Jun 27 2017

So, your children and your children's children and all that, they will live far, far, far better than we live with 2 percent growth. The economy is doing well, but all Americans aren't doing well. We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.feedback

Jun 27 2017

No matter what the headlines say … American business is going to do fine over time. Occasionally we go off the tracks with bubbles … but it will never permanently derail us. We were losing the war in the Pacific.feedback

Jun 27 2017

That's not my game. My game is to decide whether I'm in the right economy, which America has definitely been ever since that time. The money is made in investments by investing, and by owning good companies for long periods of time. If they buy good companies, buy them over time, they're going to do fine 10, 20, 30 years from now. I've owned stocks consistently since 1942. I was buying stocks the day before the [2016] election. I was buying stocks the same day after the election. Had Hillary been elected, it would've been the same thing.feedback

Jun 23 2017

In the past, I was the guy chasing shiny objects, so I'd be the guinea pig and test a handful of them each year in my practice. I would try three, four, five or more new ideas every year. Maybe one of them would pan out and lead to modest results, but the others were usually flops.feedback

Jun 22 2017

Home Capital's strong assets, its ability to originate and underwrite well-performing mortgages, and its leading position in a growing market sector make this a very attractive investment.feedback

Jun 21 2017 - Uber

We look for three things when we hire people. We look for intelligence, we look for initiative or energy, and we look for integrity. And if they don't have the latter, the first two will kill you, because if you're going to get someone without integrity, you want them lazy and dumb. I mean, you don't want a spark of energy out of them.feedback

Jun 20 2017

The cloud is a really important part of where we're going, but I have to tell you, the cloud is in its early stages and it's changing.feedback

Jun 20 2017

It is always about moving to where the profit and the value is, and what that does for an investor is that always gives us the ammunition to reinvent ourselves, those profits do, and then with that, continuously raise your dividend.feedback

Jun 20 2017

I don't value IBM the same way that I did 6 years ago when I started buying ... I've revalued it somewhat downward.feedback

Jun 14 2017

Consistently buy an S&P 500 low-cost index fund. I think it's the thing that makes the most sense practically all of the time. Costs really matter in investments. If returns are going to be seven or eight percent and you're paying one percent for fees that makes an enormous difference in how much money you're going to have in retirement.feedback

Jun 14 2017

If you send $4 million by 11 o'clock in the morning, I'll insure it.feedback

Jun 12 2017 - Israel

The purchase of Israel bonds is a sound investment and a deserved endorsement of a remarkable country.feedback

Jun 07 2017

Being successful at almost anything means having a passion for it. If you see somebody with even reasonable intelligence and a terrific passion for what they do and who can get people around them to march, even when those people can't see over the top of the next hill, things are gonna happen.feedback

Jun 07 2017

Now this is the way to spend your time! I wouldn't fool around with computers when I could be in this position.feedback

May 24 2017

The difference between successful people and really successful people is that really successful people say no to almost everything.feedback

May 23 2017

I think it's the thing that makes the most sense practically all of the time.feedback

May 22 2017

Ted Williams described in his book, The Science of Hitting,' that the most important thing for a hitter is to wait for the right pitch. And that's exactly the philosophy I have about investing. Wait for the right pitch. Wait for the right deal. And it will come. If you leave the Notre Dame [football] locker room, there's a sign, Play Like A Champion today,' and all the players touch that as they go out on the field. I figure, with Notre Dame's record, who am I to argue with that? So we just touch this every morning when we come in and hope for the best.feedback

May 22 2017

It's a different sort of place. ... We have 25 people in the office. And if you go back, it's the exact same 25. The exact same ones. If I hadn't had done that, my whole life would have been different. So in my office, you will not see the degree I got from the University of Nebraska, you'll not see the master's degree I got from Columbia University, but you'll see the little award certificate I got from the Dale Carnegie course. And my older sister Doris found this little train that used to be on his desk when we were little kids. She had kept it, and having found it, she gave it to me.feedback

May 22 2017

This is his desk right here, from 75 or more years ago.feedback

May 22 2017

It's the key to investing.feedback

May 22 2017

That, and the pile of reading material.feedback

May 16 2017 - Amazon

I was too dumb to realize what was going to happen. I've admired Jeff, and I've admired him for a long, long time. But I did not think he was going to succeed on the scale that he has. We missed it entirely. Jeff Bezos is a different species.feedback

May 14 2017

And since that century has ended it's more or less doubled again.feedback

May 14 2017

Costs really matter in investments. If returns are going to be seven or eight percent and you're paying one percent for fees that makes an enormous difference in how much money you're going to have in retirement. You'll do very well with an S&P index. And don't let them talk to you about other index funds…and say you know, you have to have foreign or maybe you can pick a better industry. You'll almost always find it comes with bigger fees.feedback

May 14 2017

Consistently buy an S&P 500 low-cost index fund. I think it's the thing that makes the most sense practically all of the time. The temptation when you see bad headlines in newspapers is to say, well, maybe I should skip a year or something. Just keep buying. American business is going to do fine over time, so you know the investment universe is going to do very well. The trick is not to pick the right company, the trick is to essentially buy all the big companies through the S&P 500 and to do it consistently and to do it in a very, very low cost way.feedback

May 14 2017

Sure, some are going to have better than average just but the fact that if you flip a coin, some are going to call heads and some are going to call tails. And one or the other will be right at that time.feedback

May 09 2017

With me, it's pretty simple. I really like teaching. I've been doing it formally and, you could say, somewhat informally all my life, and I certainly had the greatest teachers you could imagine. So if somebody thought that I did a decent job at teaching, I'd feel very good about that.feedback

May 09 2017

I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.feedback

May 09 2017 - Coca-Cola

I'm one quarter Coca-Cola. If I eat 2700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. It's a different sort of place. We have 25 people in the office and if you go back, it's the exact same 25. The exact same ones. We don't have any committees at Berkshire. We don't have a public relations department. We don't have investor relations. We don't have a general counsel. We just don't go for anything that people do just as a matter of form.feedback

May 09 2017

I actually would hope that we have somebody that's ... already very rich – which they should be if they've been working a long time – and really is not motivated by whether they have ten times as much money than they and their families can need or a hundred times as much.feedback

May 08 2017

If you go back to 1960 or thereabouts, corporate taxes were about 4 percent of G.D.P. I mean, they bounced around some. And now, they're about 2 percent of G.D.P. Health care was 5 percent of G.D.P., and now it's about 17 percent. When American business talks about strangling our competitiveness, or that sort of thing, they're talking about something that as a percentage of G.D.P. has gone down. I can't recall sending anything out to our managers saying, Let's do this because the tax law is going to change.feedback

May 08 2017

Medical costs are the tapeworm of American economic competitiveness.feedback

May 08 2017

We made a judgement about See's Candies that it would be special in – probably not in the year 2017 – but we certainly thought it would be special in 1982 and 1992 and fortunately we were right about that. And we're looking for more See's Candies, only a lot bigger.feedback

May 08 2017

It was only because we felt that people would not be buying necessarily a lower price candy. I mean it does not work very well if you go to your wife or girlfriend on Valentine's Day – I hope they're the same person – and say, Here's a box of candy, honey. I took the low bid.feedback

May 08 2017

We sort of know it when we see it. It would tend to be a business that for one reason or another we can look out five or 10 or 20 years and decide that the competitive advantage that it had at the present would last over that period. And then, it would be a matter of price.feedback

May 08 2017

As we sit here, somebody is doing something wrong at Berkshire, . We count very heavily on principles of behavior rather than loads of rules.feedback

May 08 2017

When you go out in the world, look for the job you would take if you didn't need the money. You really want to think about, what will make you feel good, when you get older, about your life, and you at least generally want to keep going in that direction.feedback

May 08 2017 - Trumpcare

If there's one clear-cut message that comes out of that bill it is we're going to cut the hell out of income taxes for the rich on investment income.feedback

May 08 2017 - Trump Presidency

I don't think he's had that much of an effect on the economy yet. The billionaire investor supported Hillary Clinton in the 2016 election. I do not make investment or business decisions based on who is president or who I think is going to be president. I have never called a president in my life. Never.feedback

May 08 2017 - American politics

I've had years when it's been a lot more than $680,000. But I'm $680,000 better off if everything else is equal just because of what happened last week.feedback

May 08 2017 - Amazon

Stupidity. I was impressed with Jeff early. I never expected he could pull off what he did ... on the scale that it happened. At the same time he's shaking up the whole retail world, he's also shaking up the IT world simultaneously. These are powerful, powerful ideas with big potential, and he's executed.feedback

May 08 2017

[But] the fundamental earnings power of the bank over a period of years has not been hurt in any material way.feedback

May 08 2017

At Wells Fargo, you knew some stuff was coming up through the branches. Somebody didn't pay attention to it. It's just totally bad news.feedback

May 08 2017 - United Airlines passenger removal

If so, it was a bigger mistake by far then if he hadn't seen it. And I don't know the answer to that.feedback

May 08 2017 - Heinz

3G has come into businesses where they really could do the same level of business with a lot fewer people, and they've made the changes very promptly when it happens. They've been very good about severance pay and all of that, but they have followed the standard capitalist formula, market system formula, of trying to do business with fewer people. That benefits everybody, particularly benefits the owner, but it's a painful process and sometimes there's a big political reaction to it.feedback

May 08 2017 - Democratic Party

It's not a question of being in the market. It's a question of owning businesses. If I wanted to own farms, I wouldn't be buying and selling them based on an election. I wouldn't try to figure that sort of thing out. I can't think of what I really (would) have done much about purchases or sales in any election. When I was a kid, every time a Democrat got elected ... there was a wake in our house, and my father would start storing sugar in the basement. So, I've learned to not put too much weight in any given election.feedback

May 08 2017

I think the biggest value will come in when it really replaces human labor. Watson is a pretty amazing invention. I'm sure the revenue is growing significantly but from a very small base.feedback

May 08 2017

It's amazing where Apple has ended up with consumers. I can very easily determine the competitive position of Apple now and who's trying to chase them and how easy it is to chase them. The shares when we bought them at least were much more reasonable in relation to current earnings.feedback

May 08 2017

Credit cards will tell you a lot about the consumer, what their attitude is.feedback

May 08 2017

They have followed the standard capitalist formula ... of trying to do the same business with fewer people. People live better when there is more output per capita. I can very easily determine the competitive position of Apple now and who is trying to chase them. Maybe, may not.feedback

May 06 2017 - Obamacare

So it is a huge tax cut for guys like me. And when there's a tax cut, either the deficit goes up or they get the taxes from somebody else. Medical costs are the tapeworm of American economic competitiveness. That is a problem this society is having trouble with and is going to have more trouble with.feedback

May 06 2017

I personally disagree with the Citizens United decision. I think it is a minus in our democracy, and that big money can often distort the political process. I'm sure that they give money to people I wouldn't vote for, but that is the reality of doing business.feedback

May 06 2017

We have got a big appetite for wind or solar. If someone walks in with a solar project tomorrow and it takes a billion dollars or three billion dollars, we're ready to do it. The more there is the better. If you're tied to coal, then you've got problems.feedback

May 06 2017

There is a good chance we will do more, and perhaps bigger things. Change is painful for a lot of people, and I would rather spend my days not doing that sort of thing. But I think it is absolutely essential to America that we become more productive. The 3G people do it very fast, and they're very good at making a business productive with fewer people. But we have been doing that in every industry. We fired 2,000 people over time ... at the textile operation. It didn't work.feedback

May 06 2017

You're going to be 88 on Monday. In only two years, you'll be eligible for an executive position at Berkshire. Hang in there buddy. I'll put it this way. If the board hires a compensation consultant after I'm gone, I will come back.feedback

May 06 2017

In capitalism, people are going to try to take that castle from you so you want a moat around it and you want a knight in that castle who is pretty darn good at warding off marauders.feedback

May 06 2017

There's nothing more agonizing than to see your neighbor who you think has an IQ 30 points below you getting rich buying stocks.feedback

May 06 2017 - Trump Presidency

The deferred taxes that are applicable to unrealized gains on securities would all be applicable to us. We have $90 or $95 billion in gains, and our owners, dollar for dollar, will participate in that ... If the rate were to drop 10 percent, that $9.5 billion is real. We've had a lot of (tax cuts) in our lifetimes … it's certain that some of a lower corporate rate would be competed away, and it's sure that some of it would inure to the benefit of shareholders. I can't recall sending anything out to our managers saying, Let's do this because the tax law is going to change.feedback

May 06 2017

The main problem was they didn't act when they learned about it. We need a money mind as CEO. We have an extraordinary group of good managers.feedback

May 06 2017

I believe that probably the five largest American companies by market cap...they have a market value of over two-and-a-half trillion dollars...and if you take those five companies, essentially you could run them with no equity capital at all. None. You really don't need any money to run these companies.feedback

May 06 2017 - China

If the market gets hot and people on leverage are doing well, a lot of people will be attracted not only to what I call speculation but what I call gambling.feedback

May 06 2017 - China

Early on in the development of markets there's probably some tendency for them I think to be more speculative than markets that have been around for a couple hundred years. Markets have a casino characteristic that has a lot of appeal to people, particularly when they see people getting rich around them. And those who haven't been through cycles before are more prone to speculate than people who have experienced the outcome of wild speculation.feedback

May 06 2017

It is no cinch that the industry will have some more pricing sensibility in the next 10 years than they had in the last 100 years, but the conditions have improved.feedback

May 06 2017 - Driverless cars

Driverless trucks are a lot more of a threat than an opportunity to Burlington Northern. Autonomous vehicles widespread would hurt us ... if they spread to trucks, and they would hurt our auto insurance business.feedback

May 06 2017

If there's a major problem, the CEO will get wind of it. At that moment, that's the key to everything. The CEO has to act. The main problem was they didn't act. As we sit here, somebody is doing something wrong at Berkshire. But when it gets to some sales practice that was talking place at Wells Fargo, you can see the type of damage it can do.feedback

May 06 2017

We count very heavily on principles of behavior rather than loads of rules.feedback

May 06 2017

If there's a major problem, the CEO will get wind of it. At that moment, that's the key to everything. The CEO has to act. The main problem was they didn't act when they learned about it. Nobody could possibly replace Ajit. You can't come close. It could be repurchases, it could be dividends.feedback

May 06 2017

We want you to understand what you own.feedback

May 05 2017 - IPhone

I don't own [Apple] because of what I think the earnings are going to be in the next three months or six months.feedback

May 05 2017

These were the only two guys we (meaning himself and Munger) could find who read as much as we did.feedback

May 05 2017

They don't have to check in before they buy or sell anything.feedback

May 05 2017

I've revalued it somewhat downward. When it got above $180 we actually sold a reasonable amount of stock.feedback

May 05 2017 - IPad

I was wrong … IBM is a big strong company, but they've got big strong competitors too. I don't value IBM the same way that I did six years ago when I started buying ... I've revalued it somewhat downward. Apple strikes me as having quite a sticky product, and an enormously useful product to people that use it. I don't have an iPhone … I have an iPad. Somebody gave it to me though.feedback

May 05 2017 - Amazon

I've never seen a guy succeed in two businesses almost simultaneously that are really quite divergent in terms of customers and all the operations.feedback

May 05 2017

I don't value IBM the same way that I did six years ago when I started buying.feedback

May 05 2017

I'm a broken record on this subject but since the fall of 2009, literally, it's been about 2 percent a year. I don't think the figures are necessarily accurate when you get to tenths and all of that. Autos are falling off a little now but housing is good, and most of our businesses are doing a little better. It's not perfect reporting. Now what I see isn't perfect either obviously.feedback

May 05 2017

I hate cash. I mean we are investing. But [cash] is a holding position until you find something else. But the very fact that interest rates are that low makes it hard for us to buy other things because other people buy things with borrowed money and borrowed money is so cheap. If we are competing with equity money against slim equity plus a lot of debt we're at a disadvantage. I'm very jealous. I thought I was doing OK until I looked at their balance sheet. On the other hand. We've got ours here in the United States.feedback

May 05 2017

I don't value IBM the same way that I did 6 years ago when I started buying... I've revalued it somewhat downward. When it got above $180 we actually sold a reasonable amount of stock. I think if you look back at what they were projecting and how they thought the business would develop I would say what they've run into is some pretty tough competitors. IBM is a big strong company, but they've got big strong competitors too.feedback

May 03 2017

It's the growth of the Berkshire forest that counts.feedback

May 01 2017

If you can't communicate and talk to other people and get across your ideas, you're giving up your potential.feedback

Apr 28 2017

They're chosen for both ability and character. Maybe seven or eight years ago, Charlie [Munger] and I talked about the desirability of bringing on somebody or maybe more than one somebody to both manage money now, but also in preparation for the day that Charlie and I won't be around.feedback

Apr 17 2017

It takes 20 years to build a reputation and five minutes to ruin it.feedback

Apr 05 2017

The money is made in investments by investing, and by owning good companies for long periods of time. If they buy good companies, buy them over time, they're going to do fine 10, 20, 30 years from now.feedback

Mar 27 2017

I like royalty-based businesses.feedback

Mar 21 2017

If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle.feedback

Mar 21 2017

He told me he almost didn't fill out a bracket, so he wasn't upset. He told me it will help pay off some of his bills. The odds are that we'll eventually give away that $1 million. We like doing it because we often act as separate companies and this brings us all together.feedback

Mar 13 2017

But investing isn't about beating others at their game. It's about controlling yourself at your own game.feedback

Mar 10 2017

It's waiting that helps you as an investor, and a lot of people just can't stand to wait.feedback

Mar 10 2017

When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsize profits, not the clients. Both large and small investors should stick with low-cost index funds.feedback

Mar 09 2017

We are not in bubble territory or anything of the sort.feedback

Mar 06 2017

If you know you're going to live in a given area, or think it's very likely, for a considerable period of time and you've got a family, the home is terrific. Because if you're wrong and rates go to two percent, which I don't think they will, you pay it off. It's a one-way renegotiation. It is an incredibly attractive instrument for the homeowner and you've got a one-way bet.feedback

Mar 06 2017

I wouldn't trade it for anything.feedback

Mar 06 2017

The "expectation is that investment gains will continue to be substantial – though totally random as to timing – and that these will supply significant funds for business purchase.feedback

Mar 04 2017

If you get a 30-year mortgage it's the best instrument in the world, because if you're wrong and rates go to 2 percent, which I don't think they will, you pay it off. It's a one-way renegotiation. I mean it is an incredibly attractive instrument for the homeowner and you've got a one-way bet.feedback

Mar 04 2017

The home I live in now I bought in 1958 and I wouldn't trade it for anything.feedback

Mar 04 2017

When I bought it for $150,000, I borrowed some money from Great Western Savings and Loans. So I probably only had $30,000 of equity in it or something like that – it's the only mortgage I've had for fifty years. I thought I could probably do better with the money than have it be an all equity purchase of the house. That $110 or $120 thousand I borrowed, I was buying Berkshire then.feedback

Mar 03 2017

Games are won by players who focus on the playing field (long term) – not by those whose eyes are glued to the scoreboard (short term).feedback

Mar 03 2017

The fault is not in our stars, it's in ourselves and our short term thinking about returns on investments.feedback

Mar 02 2017

American business – and consequently a basket of stocks – is virtually certain to be worth far more in the years ahead. Investors who avoid high and unnecessary costs and simply sit for an extended period with a collection of large, conservatively-financed American businesses will almost certainly do well.feedback

Mar 02 2017

During such scary periods, you should never forget two things. First, widespread fear is your friend, as an investor, because it serves up bargain purchases. Second, personal fear is your enemy.feedback

Feb 27 2017

I have not seen anything yet that would cause me to change the way we look at evaluating quakes, tornadoes, hurricanes by atmosphere. Now, that may happen some day.feedback

Feb 27 2017

Thank you, Madame Li, thank you, Dalian Trends, for setting a marvelous example for what a business can accomplish in one person's lifetime.feedback

Feb 27 2017

They started sticking tape measures around me and everything and then they showed me a book with ... a whole bunch of samples and said, Pick out a suit. Madam Li wants to give it to you.feedback

Feb 27 2017

The suits we have received have been made in China, we have never had to alter a quarter of an inch. They fit perfectly. We get compliments on them. It's been a long time since I got compliments on how I looked but, since I am wearing Madame Li's suits, I get compliments all the time.feedback

Feb 27 2017

It's a remarkable achievement. It's a story that should inspire people in China and inspire people around the world. I have told that story to many people here in the United States and they marvel at what Dalian Trends has achieved over just these 30 years.feedback

Feb 27 2017 - Women

She had started with a sewing machine. And she employed 15,000 people. And she was a marvelous woman.feedback

Feb 27 2017 - Heinz

Will there be another deal at Kraft Heinz someday? My guess is yes, but who knows when ... it would have to be friendly and frankly, the prices in that field make it very, very, very tough to make an intelligent deal. Alex took it as a maybe and gave this letter outlining a deal to Unilever. Once the three of us learned that it was regarded as unfriendly, we had no intention of making one and I think the Unilever people understand that now.feedback

Feb 27 2017

It will do better on balance than what they will get if they go to professionals. Because the professionals, after fees, don't know how to get a better result.feedback

Feb 27 2017

Two and 20 is going to make a lot of people rich, and it's going to make very few investors rich. You don't get better because you charge a lot. That does not make you a better judge of securities or anything like that.feedback

Feb 27 2017

The idea of committing your money at roughly 3 percent for 30 years ... doesn't make any sense to me.feedback

Feb 27 2017

They have developed an online presence that people will pay for. If you look, there are 1,300 daily newspapers left in the United States. (Berkshire Hathaway has) 31 of them. There were 1,700 or 1,800 not too long ago. Now, you've got the internet. Aside from the ones I mentioned, 1,400 or 1,300 of them haven't figured out a way to make the digital model complement the print model.feedback

Feb 27 2017 - Heinz

After that Friday, I got a call indicating that the offer was unwelcomed. It became very apparent that Unilever did not want this offer.feedback

Feb 27 2017

We also have a prize of $100,000 for whoever goes the furthest. Last year, we had two fellows that tied. One of them knew a lot about basketball; the other didn't know anything about basketball, but they each got $50,000 out of it.feedback

Feb 27 2017

My guess is that they will find doing something really comprehensive will be too difficult. If you want to be revenue neutral without the craziest dynamic scoring in the world ... it's going to be very, very tough.feedback

Feb 27 2017

That is the No. 1 of the chief executive of the United States. And that's not an easy job.feedback

Feb 27 2017 - Oil

I don't worry at all about whether somebody comes from the oil industry or if they have a lot of money.feedback

Feb 27 2017

Probably half the time [in] my adult life, I've had a president other than the one I voted for. But that's never taken me out of stocks. Tillerson makes a lot of sense. Tillerson is going to be working for the United States in that job.feedback

Feb 27 2017

It's true that the airlines had a bad 20th century. They're like the Chicago Cubs. And they got that bad century out of the way, I hope. We'll save that (conversation) for after the show. I think there have been almost 100 airline bankruptcies. I mean, that is a lot. It's been a disaster for capital.feedback

Feb 27 2017 - Coca-Cola

It's the same metric I use for buying any asset. There's no special trick in the valuation. There can be a problem in figuring out what's inside the bank. Otherwise, I'm just looking at it like it's Coca-Cola or American Express.feedback

Feb 26 2017

Many companies, of course, will fall behind, and some will fail. Winnowing of that sort is a product of market dynamism. Moreover, the years ahead will occasionally deliver major market declines – even panics – that will affect virtually all stocks. No one can tell you when these traumas will occur – not me, not Charlie [Munger], not economists, not the media.feedback

Feb 25 2017

Clayton and Berkshire have been a wonderful partnership. Kevin Clayton came to us with a best-in-class management group and culture. Berkshire, in turn, provided unmatched staying power when the manufactured home industry fell apart during the Great Recession.feedback

Feb 25 2017

As the subject of repurchases has come to a boil, some people have come close to calling them un-American –characterizing them as corporate misdeeds that divert funds needed for productive endeavors. That simply isn't the case: Both American corporations and private investors are today awash in funds looking to be sensibly deployed. I'm not aware of any enticing project that in recent years has died for lack of capital.feedback

Feb 25 2017

Our buying out 'partners' at a discount is not a particularly gratifying way of making money. Still, market circumstances could create a situation in which repurchases would benefit both continuing and exiting shareholders. If so, we will be ready to act. To tell owners year after year, Don't count this,' when management is simply making business adjustments that are necessary, is misleading. And too many analysts and journalists fall for this baloney.feedback

Feb 25 2017

If 1,000 managers make a market prediction at the beginning of a year, it's very likely that the calls of at least one will be correct for nine consecutive years. Of course, 1,000 monkeys would be just as likely to produce a seemingly all-wise prophet. But there would remain a difference: The lucky monkey would not find people standing in line to invest with him.feedback

Feb 25 2017

The results for their investors were dismal – really dismal. And, alas, the huge fixed fees charged by all of the funds and funds-of-funds involved – fees that were totally unwarranted by performance – were such that their managers were showered with compensation over the nine years that have passed. As Gordon Gekko might have put it: 'Fees never sleep'. Further complicating the search for the rare high-fee manager who is worth his or her pay is the fact that some investment professionals, just as some amateurs, will be lucky over short periods.feedback

Feb 25 2017

A few, however – these are serious blunders I made in my job of capital allocation – produce very poor returns. In most cases, I was wrong when I originally sized up the economic characteristics of these companies or the industries in which they operate, and we are now paying the price for my misjudgments. In a couple of instances, I stumbled in assessing either the fidelity or ability of incumbent managers or ones I later put in place.feedback

Feb 25 2017

The MidAmerican cash purchase – I was learning – firmly launched us on our present course of (1) continuing to build our insurance operation; (2) energetically acquiring large and diversified non-insurance businesses and (3) largely making our deals from internally-generated cash. Today, I would rather prep for a colonoscopy than issue Berkshire shares. I will commit more errors; you can count on that. Fortunately, Charlie – never bashful – is around to say 'no' to my worst ideas.feedback

Feb 25 2017

I'll repeat what I've both said in the past and expect to say in future years: Babies born in America today are the luckiest crop in history. The bottom line: When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients. Both large and small investors should stick with low-cost index funds.feedback

Feb 22 2017 - Heinz

I tip my hat to what the 3G people have done.feedback

Feb 19 2017 - McDonald's

My life couldn't be happier. In fact, it'd be worse if I had six or eight houses. So, I have everything I need to have, and I don't need any more.feedback

Feb 16 2017

Defining what your game is – where you're going to have an edge – is enormously important.feedback

Feb 08 2017

You will move in the direction of the people that you associate with. It's important to associate with people that are better than yourself.feedback

Feb 08 2017

You want to associate with people who are the kind of person you'd like to be.feedback

Feb 03 2017 - Coca-Cola

I'm one quarter Coca-Cola. If I eat 2700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.feedback

Feb 03 2017 - Microsoft

If we were here in 1800 and conducting this, somebody would point out that eventually tractors would come along and better fertilizer and that 80 percent of the people are now employed on the farm and in couple hundred years it is going to be 2 or 3 percent, and what are we going to do with all these people? Well, the answer is we released them. Everything should be devoted initially to getting greater productivity. But people who fall by the wayside, through no fault of their own, as the goose lays more golden eggs, should still get a chance to participate in that prosperity.feedback

Feb 03 2017 - Microsoft

The idea of more output per capita – which is what the progress is made on productivity – that that should be harmful to society is crazy. If one person could push a button and turn out everything we turn out now, is that good for the world or bad for the world? You would free up all kinds of possibilities for everything else.feedback

Feb 02 2017

We find the world just such an interesting place, so we like to compare notes.feedback

Feb 02 2017

We both certainly share a curiosity about the world.feedback

Feb 02 2017

If he waited for the pitch that was really in his sweet spot, he would bat .400. If he had to swing at something on the lower corner, he would probably bat .235. The trick in investing is just to sit there and watch pitch after pitch go by and wait for the one right in your sweet spot. And if people are yelling, Swing, you bum!,' ignore them.feedback

Feb 02 2017

You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital.feedback

Feb 02 2017

If you aren't willing to own a stock for 10 years, don't even think about owning it for 10 minutes.feedback

Feb 02 2017

I knew what everybody thought and all of that at an early age, but what Graham wrote made sense. I just happened to pick up that book up at a bookstore in Lincoln, Nebraska. I certainly wasn't going to be a pro football player. It was a question of zeroing out all the other incompetencies, and I was left with one thing.feedback

Jan 31 2017

We've, net, bought $12 billion of common stocks since the election.feedback

Jan 31 2017

Rule number one: Never lose money. Rule number two: Never forget rule number one.feedback

Jan 31 2017

Ben was this incredible teacher. He was a natural and he drew us all in. It was like learning baseball from a fella who was batting .400. It shaped my professional life.feedback

Jan 31 2017

We don't break up packs of gum – I mean, I've got my principles. I still, to this day, remember Mrs. Macoubrie saying she wanted one stick. They were a nickel and she wanted to spend a penny with me. It was awful; people would spit on the floor. But we had great fun. If I found any winning tickets, my aunt Alice would cash them in for us, because they wouldn't cash them for kids.feedback

Jan 31 2017

I bought this old pinball machine for $25 and we can have a partnership.feedback

Jan 31 2017

I'd committed the worst sin, which is that you get behind and think you've got to break even that day. It was the last time I ever did anything like that.feedback

Jan 31 2017

He probably got them the way we first tried to get them, out of water traps, only he was better.feedback

Jan 30 2017 - McDonald's

$3.17 is a bacon, egg and cheese biscuit, but the market's down this morning, so I'll pass up the $3.17 and go with the $2.95.feedback

Jan 27 2017

I am confident that America will move ahead.feedback

Jan 27 2017

I had fun when I was in my twenties, my thirties, and now I am 86 and I am having fun.feedback

Jan 27 2017

Susie really put me together.feedback

Jan 27 2017

It's a very strange thing, love. If you try to give it out, you get more back. If you try to hang onto it, you lose it.feedback

Jan 20 2017

There will be hiccups from time to time in the economy. [But] we'll do well over time.feedback

Jan 20 2017

This is a story about my dad and my first wife, and also about my second wife, who all really put me together, saved me. So I think people will see a different side of me than they've seen before.feedback

Jan 18 2017

In my entire lifetime, everything that I've spent will be quite a bit less than 1 percent of everything I make. The other 99 percent plus will go to others because it has no utility to me. So it's silly for me to not transfer that utility to people who can use it.feedback

Dec 09 2016 - Coca-Cola

I know James and like him, and believe the company has made a smart investment in its future with his selection.feedback

Dec 02 2016

Rick lived and breathed Fruit of the Loom, and he was an inspirational leader to everyone associated with the company.feedback

Nov 16 2016

It also provides what I call an anchor tenant in this industry and our stock.feedback

Nov 14 2016

I'd feel terrible if the story the next day was why wasn't Southwest included, and he didn't know we bought it for three months.feedback

Nov 12 2016

He was very good at licensing and promotion. He understands business, but he's obviously better at licensing and marketing.feedback

Nov 12 2016

That doesn't mean they can't criticize him or disagree with what he's doing maybe, but we need a country unified [behind] the legitimacy of the president.feedback

Nov 11 2016

The stock market will be higher 10, 20, 30 years from now. It would have been with Hillary, and it ... will be with Trump.feedback

Nov 11 2016

The stock market will be higher 10, 20, 30 years from now, and it would have been with Hillary, and it ... will be with Trump. 100 percent. ... The market system works. It doesn't work for everybody. It works in aggregate.feedback

Nov 11 2016

It was a dumb incentive system, which when they found out it was dumb, they didn't do anything about it.feedback

Nov 11 2016

I don't know the exact words, but I said I don't think you understand the gravity of this.feedback

Nov 08 2016

We're not going to a funeral.feedback

Oct 10 2016

Neither would Mr. Trump – at least he would have no legal problem.feedback

Oct 10 2016

I have paid federal income tax every year since 1944, when I was 13. (Though, being a slow starter, I owed only $7 in tax that year.) I have copies of all 72 of my returns and none uses a carryforward.feedback

Aug 02 2016

In the next 10 years, the company loses money every year, every single year, and he takes out $44 million in compensation during that period. In 1995, when he offered this company, if a monkey had thrown a dart, at the stock page, the monkey on average would've made 150 percent. But the people that believed in him, who listened to his siren song, ended up losing well over 90 cents on the dollar. They got back less than a dime.feedback

Aug 02 2016

I will take at least 10 people to the polls who would otherwise have difficulty getting there. He had reserved a 32-seat trolley for the day with a goal of getting the highest-percentage turnout of any congressional district in the country.feedback

Aug 02 2016

How in the world can you stand up to a couple of parents who lost a son and talk about sacrificing because you were building a bunch of buildings?feedback

Aug 02 2016

I pledge today that on Election Day, Nov. 8, I will take at least 10 people to the polls who would otherwise have difficulty getting there.feedback

Jul 21 2016

On balance, it's better to have one class of stock.feedback

Jul 21 2016

Jamie gave me [and others] a call ... probably a little more than a year ago, and suggested we get together and see if we could come together on some general principles for corporate governance that might help show a pathway to the future.feedback

Jul 21 2016

We also have a provision that in the event of any kind of a corporate transaction, the 'A' stock cannot be treated differently than the 'B' stock. I think that's important and we put that in our paper.feedback

Jul 21 2016

[Earnings] guidance can lead to a lot of malpractice. I've seen guidance produce some bad results.feedback

Jul 21 2016

We welcome other views on it. These did not come down on a tablet from the mountain.feedback

May 06 2016

Railroad carloadings industrywide fell "significantly" in the first quarter, and "almost certainly will continue to be down the balance of the year.feedback

May 02 2016

I would've been amazed if it hadn't come from the top. Pearson … he certainly seemed like the sort of person who forged all important policies on the company. It was an important policy to jack up prices dramatically, unbelievably almost, for certain drugs that people really don't have a substitute for.feedback

Apr 30 2016

I elect to get my 2,600 or 2,700 calories a day from things that make me feel good when I eat them. That's my sole test. I like fudge a lot. Peanut brittle. I am a very, very, very happy guy.feedback

Apr 30 2016

Mark Donegan is an extraordinary manager. I would almost rank Mark as one of a kind.feedback

Apr 30 2016

It is still a potential time bomb.feedback

Apr 30 2016

I don't think you'll necessarily see the same trends this year.feedback

Apr 30 2016

Railroad carloading throughout the industry – all of the major railroads – were down significantly in the first quarter, and probably almost certainly will continue to be down for the balance of the year.feedback

Apr 30 2016

I elect to get my 2,600 or 2,700 calories a day from thingsthat me feel good when I eat them.feedback

Feb 27 2016

For 240 years it's been a terrible mistake to bet against America, and now is no time to start. The babies being born in America today are the luckiest crop in history.feedback

Feb 27 2016 - Climate change

It seems highly likely to me that climate change poses a major problem for the planet. But when you are thinking only as a shareholder of a major insurer, climate change should not be on your list of worries.feedback

Feb 27 2016

Jorge Paulo and his associates could not be better partners.feedback

Feb 27 2016

All families in my upper middle-class neighborhood regularly enjoy a living standard better than that achieved by John D. Rockefeller Sr. at the time of my birth.feedback

Feb 19 2016

We're still triple-A in my mind.feedback

Apr 29 2015 - Coca-Cola

I think my 'popularity' in China is due to the huge interest in stocks in China that has developed in just a couple of decades. I was in the right place at the right time as the Chinese looked around for famous investors. Also, they like old guys; Charlie's my only competition.feedback

Dec 19 2014 - Kremlin

You never know who's swimming naked until the tide goes out.feedback

Mar 21 2011

It will take some time to rebuild. But it will not change the economic future of Japan.feedback

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