My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.
Warren BuffettWe intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.
Warren BuffettI've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're feeling it. If you're a jewelry retailer, you're feeling it. I know some of these businesses because we're in them. Yeah, it's being felt, but it will be felt big time more if we don't do something about it, what's going on.
Warren BuffettI never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Warren BuffettThe stock market is a no-called-strike game. You donโt have to swing at everything โ you can wait for your pitch.
Warren BuffettThis country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.
Warren Buffett