I don't want to give a lecture to this body that's out there. You know, I mean, having had the heart attack, I want to get it back functioning. And as a practical matter, I mean if you were Bear Stearns, and you were a shareholder, you know, you lost 90 to 95 percent of your money. A good many lost their jobs. They lost very cushy lives, many of them.
Warren BuffettI could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.
Warren BuffettThe fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.
Warren BuffettThe approach and strategies are very similar in that you gather all the information you can and then keep adding to that base of information as things develop. You do whatever the probabilities indicated based on the knowledge that you have at that time, but you are always willing to modify your behaviour or your approach as you get new information. In bridge, you behave in a way that gets the best from your partner. And in business, you behave in the way that gets the best from your managers and your employees.
Warren Buffett