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Warren Buffett on Business: Principles from the Sage of Omaha

Book by Warren Buffett · 10 quotes · Investing, Buffets, Business

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Warren Buffett on Business: Principles from the Sage of Omaha Quotes

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”

“It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”

“When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”

“To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.”

“The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.”