Not doing what we love in the name of greed is very poor management of our lives.
Nothing sedates rationality like large doses of effortless money.
Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
Only when you combine sound intellect with emotional discipline do you get rational behavior.
Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.
Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it’s the lack of change that appeals to me. I don’t think it is going to be hurt by the Internet. That’s the kind of business I like.
Our favorite holding period is forever.
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.