Problems in a company are like cockroaches in the kitchen. You will never find just one
Warren BuffettI make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.
Warren BuffettOver the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.
Warren BuffettDerivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.
Warren BuffettYou will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
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 Buffett