We only want to link up with people whom we like, admire, and trust. ... We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.
Warren BuffettInvesting in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the cards.
Warren BuffettI look at everything. That's my job. I really do, every day. I think about everything.
Warren BuffettWhen somebody makes it very easy for you to do it by saying you don't really have to put up my money, you can lie about your income a little, or we'll give you 100 percent mortgage, you're going to do it, because everybody that's done it has been proven right. You have social tools, and you're going to feel like an idiot if you didn't do it, because the house cost more.
Warren BuffettYou get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.
Warren BuffettSomebody's buying these treasury bills at 1/20th of one percent. Consuming about $2 billion a day of goods and services beyond what we're producing. In other words, the rest of the world sends about $2 billion a day net of something.We got to send them something in return, don't we. So we send them little pieces of paper.
Warren Buffett