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Warren Buffett on Business: Principles from the Sage of Omaha

Book by Warren Buffett · 9 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.”

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

“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.”

“In our view, though, investment students need only two well-taught courses-How to Value a Business, and How to Think about Market Prices. Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business who's earnings are virtually certain to be materially higher five, ten and twenty years from now.”

“The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball.”