Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
Warren BuffettFor some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.
Warren BuffettThe real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
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