I recently sold a house in Laguna for 3.5 million. It was on about 2,000 square feet of land, maybe a twentieth of an acre, and the house might cost about 500,000 if you wanted to replace it. So the land sold for something like 60 million an acre.
More Quotes from Warren Buffett:Time is the friend of the wonderful company, the enemy of the mediocre.
We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'
We always live in an uncertain world. What is certain is that the United States will go forward over time.
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.
Warren, isn't it fair to say that if we did have an opinion, we wouldn't tell him
Beware of geeks bearing formulas.
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What our children have to fear is not the cars on the highways of tomorrow but our own pleasure in calculating the most elegant parameters of their deaths.
J. G. Ballard
A lot of it, as it is in any job in life, is being in the right place at the right time.
Most people give up just when they're about to achieve success. They quit on the one yard line. They give up at the last minute of the game one foot from a winning touchdown.