You ought to be able to explain why youโre taking the job youโre taking, why youโre making the investment youโre making, or whatever it may be. And if it canโt stand applying pencil to paper, youโd better think it through some more. And if you canโt write an intelligent answer to those questions, donโt do it.
Warren BuffettIf this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life.
Warren BuffettIf you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.
Warren BuffettWe really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.
Warren BuffettAnd people really behaved in a fraudulent way or something, we'll go back and find the culprits later on. But that really isn't the problem we have. I mean that's where it came from, though. We leveraged up and if you have a 20 percent fall in value of a $20 trillion asset, that's $4 trillion. And when $4 trillion lands - losses land in the wrong part of this economy, it can gum up the whole place.
Warren Buffett