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Paid Quotes

“John Sculley ruined Apple and he ruined it by bringing a set of values to the top of Apple which were corrupt and corrupted some of the top people who were there, drove out some of the ones who were not corruptible, and brought in more corrupt ones and paid themselves collectively tens of millions of dollars and cared more about their own glory and wealth than they did about what built Apple in the first place which was making great computers for people to use.”

“[W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value -- in the hope that it can soon be sold for a still-higher price -- should be labeled speculation (which is neither illegal, immoral nor -- in our view -- financially fattening).”

“I believe that online paid content hasn't worked for general circulation newspapers because consumers weren't ready for it, because the implementation did not deliver enough value, because content was typically the same as in the print version, and because much of the material was being syndicted by the papers to other publishers or was not protected with DRM technologies to exclude use by others.”

“Is this not true--That in proportion to the value of their estates the extremely wealthy pay far less taxes than those of moderatemeans? Compare the amount paid by millionaires with the amount paid by ordinary citizens. I believe that in proportion to their estates they pay less than half as much as ordinary citizens, whereas they ought to pay more.”

“Edge also implies what Ben Graham....called a margin of safety. You have a margin of safety when you buy an asset at a price that is substantially less than its value. As Graham noted, the margin of safety 'is available for absorbing the effect of miscalculations or worse than average luck.' ...Graham expands, "The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at some still higher price."”

“Once you have an equalization instrument in place, as you have in Canada, there arise tremendous bureaucratic values - bureaucratic rent so to speak - in maintaining the system that you have. To shift to a system that paid the transfers directly to individuals, by having differential rates of federal income tax levied to adjust to provincial fiscal capacities, which would be my preference, you would have huge bureaucratic opposition. People would try to protect the rents they have in the current system of institutions.”

“I still believe in the resilience of the human heart and the essential validity of love;I still believe that connections between people can be made and that the spirits which inhabit us sometimes touch. I still believe that the cost of these connections is horribly, outrageously high... and I still believe that the value received far outweighs the price which must be paid. (From introductory notes.)”

“But no value has been put on human life; it is given to us free and taken without being paid for. What is it worth? If you look around, at times the value may seem to be little or nothing at all. Often after you have sweated and tried and things are not better for you, there comes a feeling deep down in the soul that you are not worth much.”

“The absolute heart of loyalty is to value those people who tell you the truth, not just those people who tell you what you want to hear. In fact, you should value them most. Because they have paid you the compliment of leveling with you and assuming you can handle it.”