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Quote by Warren Buffett

“it's a good idea to review past mistakes before committing new ones.”

Quote by Warren Buffett

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

Work

Warren Buffett on Business: Principles from the Sage of Omaha

Comprising a compilation of Warren Buffett's business wisdom, this book delves into the principles that have guided his successful career in the business world. It includes his views on investment strategies, corporate governance, and the keys to long-term success in business. more

Author

Warren Buffett, born on August 30, 1930, is a renowned investor. Known as the 'Oracle of Omaha,' he is the chairman and CEO of Berkshire Hathaway, a diversified holding company involved in insurance, railroads, energy, finance, and more. Buffett's investment philosophy emphasizes value investing, and he is known for his long-term investment and stable investment strategies. more

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“If you have a great manager, you want to pay him very well.”

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“If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driving a truck across a bridge that says it holds 10,000 pounds and you've got a 9,800 pound vehicle, if the bridge is 6 inches above the crevice it covers, you may feel okay, but if it's over the Grand Canyon, you may feel you want a little larger margin of safety.”

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“If you invested in a very low cost index fund - where you don't put the money in at one time, but average in over 10 years -you'll do better than 90% of people who start investing at the same time.”

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“Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.”

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Author:Warren Buffett

“For example: (1) As if governed by Newton's First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated.”

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

“[Heresy is] the dislocation of a complete and self-supporting scheme by the introduction of a novel denial of some essential part therein.”

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“The Catholic Church is an institution I am bound to hold divine - but for unbelievers a proof of its divinity might be found in the fact that no merely human institution conducted with such knavish imbecility would have lasted a fortnight.”

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“I put my pencil upon the paper, doubtfully, and drew little lines, considering my theme. But I would not long hesitate in this manner, for I knew that all creation must be chaos first, and then gestures in the void before it can cast out the completed thing.”

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Source: Delphi Works of Hilaire Belloc (Illustrated)