If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.
Warren BuffettOne observer commenting on security analysts over forty stated: "They know too many things that are no longer true." As long as I am "on stage", publishing a regular record and assuming responsibility for management of what amounts to virtually 100% of the net worth of many partners, I will never be able to put sustained effort into any non-BPL activity. If I am going to participate publicly. I can't help being competitive. I know I don't want to be totally occupied with out-pacing an investment rabbit all my life. The only way to slow down is to stop.
Warren BuffettIf horses had controlled investment decisions, there would have been no auto industry.
Warren BuffettIt is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them.
Warren Buffett