One 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 BuffettThe most common cause of low prices is pessimism - sometimes pervasive, sometimes 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.
Warren BuffettJohn Maynard Keynes essentially said, don't try and figure out what the market is doing. Figure out a business you understand, and concentrate.
Warren BuffettIf youโre in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.
Warren Buffett