How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.
Warren BuffettStocks of companies selling commodity-like products should come with a warning label: "Competition may prove hazardous to human wealth".
Warren BuffettWe've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.
Warren Buffett[Economy] is flat on the floor, and the paramedics have arrived. And they shouldn't argue about whether they put the resuscitation equipment a quarter of an inch this way or a quarter of an inch this way, or they shouldn't start criticizing the patient, because he didn't have a blood pressure test or something like that. They should do what's needed right now.
Warren BuffettWell, one time some attractive woman sat next to Charlie and asked him what he owed his success to, and, unfortunately, she insisted on a one word answer. He had a speech prepared that would have gone on for several hours. But when forced to boil it down to one word, he said that was "rational". You know, he comes equipped for rationality, and he applies it in business. He doesn't always apply it elsewhere, but he applies it in business and that has made him a huge business success.
Warren Buffett