I think the rest of the country should be paying less, the 95 percent that [Barack] Obama talks about or maybe even a little higher than that.
Warren BuffettThe capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.
Warren BuffettThe most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
Warren BuffettThe stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.
Warren BuffettThe gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.
Warren Buffett