Buffett again

1. Rule No.1 : Never lose money. Rule no.2 : Never forget rule No.1 
2. It is easier to stay out of trouble than it is to get out of trouble.
3. There is a huge difference between the business that grows and requires lots of capital to do so and the business that grows and doesn't require capital.
4. I look for businesses in which I think I can predict what they're going to look like in ten to fifteen years' time.
5. If you let yourself be undiciplined on the small things, you will probably be undisciplined on the large things as well.
6. There is nothing like writing to force you to think and get your thoughts straight.
7. IPOs: The only time to buy these is on a day with no "y" in it. Investment bankers will never serve you a bargain, but the stock market will.
8. That which is not worth doing at all is not worth doing well.
9. Our menthod is very simple. We just try to buy businesses with good-to-superb underlying economics run by honest and able people and buy them at sensible prices. That's all Iam tryng to do.
10. Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause teh stock to be misappraised.
11. Uncertainty actually is the friend of the buyer of long-term securities.

•On perspective: Don’t be looking to make a deal your best one ever. Market conditions and opportunity costs will be different at different times. Don’t compare past and recent deals. Just focus on making a satisfactory deal, one that’s the best that you can do at the time.


•On anger and patience: You can always tell a man to go to hell tomorrow.