Some other interesting quotes I read in Warren Buffett Speaks.
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Everybody engaged in complicated work needs colleagues. Just the discipline of having to put your thoughts in order with somebody else is a very useful thing.
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Munger has mastered short answers. "Charlie is not paid by the word" explains Buffett.
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Retirement plans? About 5-10 years after I die.
-I feel like tap-dancing all the time. We tap-dance to work.
-Any string of impressive figures multiplied by a single zero is still a zero.
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With enough insider information and a million dollars you can go broke in a year.
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That which is not worth doing is not worth doing well.
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I went to Dale Carnegie not to prevent my knees from knocking when public speakig but to do public speaking while my knees were knocking.
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Rule No. 1: Never lose money. Rule No.2 : Never forget Rule No. 1
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-I has been helpful to me to have tens of thousands (of students) turned out of business schools taught that it didn't do any good to think (EMT)
-Its only when the tide goes out that you learn who's been swimming naked.
-Forecasts usually tell us more of the forecaster than of the future.
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When you combine ignorance and borrowed money, the consequences can get interesting.
-do a lot of reading. I read annual reports pf the company Iam looking at and of competitors, that is the main source of material.
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I'd rather have a $10 million business making 15 percent than a $100 million dollar business making 5 percent.
-Don't take the performance of your stock personally, after all : A stock doesn't know you own it.
-Never buy an airline stock.
