I think the most important factor in getting out of the recession actually is just the regenerative capacity of – of American capitalism.
I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.
I won’t close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.
I would say the most satisfying thing actually is watching my three children each pick up on their own interests and work many more hours per week than most people that have jobs at trying to intelligently give away that money in fields that they particularly care about.
I’m not interested in cars and my goal is not to make people envious. Don’t confuse the cost of living with the standard of living.
If a business does well, the stock eventually follows.
If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further. But I think that people at the high end – people like myself – should be paying a lot more in taxes. We have it better than we’ve ever had it.
If at first you do succeed, quit trying on investing.
If each of us hire people who are smaller than we are, we shall become a company of dwarfs. But, if each of us hire people who are bigger than we are, we shall become a company of giants.