When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
More Quotes from Warren Buffett:Time is the friend of the wonderful company, the enemy of the mediocre.
I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.
I buy expensive suits. They just look cheap on me.
We enjoy the process far more than the proceeds.
The investor of today does not profit from yesterday's growth.
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.
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I'm very wary about giving advice. I think it's very dangerous to give advice to people, except if you know them very well.
Daddy loves you, but he smacks you, and he can shout at you and smash things, but Daddy still loves you. So when you get into a relationship with someone who does all of that, why would it be unusual?
For me, the other thing is not just a strong sense of spirituality.