English Warren-buffett Thoughts

"I like to study failure, actually. My partner says, "I want to know where I'll die so I'll never go there." We want to see what has caused businesses to go bad. The biggest thing that kills them is complacency. ... The danger would always be that you rest on your laurels."

"I would like to first introduce our directors. I'm Warren Buffett, and I was born and raised here in Omaha. We have Greg Abel — he was born and raised in Canada , and we have Ajit Jain who was born and raised in India . So we have a very diverse group."

"Buffett, one of the richest men in the world and a vocal supporter of higher taxes on the rich, also is making use of a Roth . At the end of 2018, Buffett had $20.2 million in it"

"Buffett believes the most important quality for an investor is temperament, not intellect . A successful investor doesn't focus on being with or against the crowd. The stock market will swing up and down. But in good times and bad, Buffett stays focused on his goals"

"What J.P. Morgan and John D. Rockefeller were to the Age of Robber Barons, Microsoft's Bill Gates and Berkshire Hathaway's Warren Buffett, as well as digital moguls like Mark Zuckerberg and Jeff Bezos are to the contemporary age of the rule of the 1%. Then as now, the super-rich used governments to write laws and rules to allow them to accumulate unlimited wealth; then as now, creating monopolies by enclosing the commons and killing competition is the strategy for becoming the 1%"

"As taxpayers we gave one of Warren Buffet's companies, in 2006, an interest-free loan of $665 million dollars, and he only has to pay half of it back 28 years from now. ...Imagine ...you bought a house in 1980 at the price in 1980. Up until now [2009] you haven't made any payments on the house, and this year you have to pay half in the... dollars you agreed to back then, no adjustment for inflation. Do you think that alone might make you a wealthy man?"

"Warren Buffet controls an electric utility that has operations in the Midwest, Utah and Oregon. Oregon passed a law saying whatever income taxes are embedded in the electric rates paid to this monopoly electric company, must be paid to the government, or the ratepayers get the money back. Warren Buffet's fighting that like mad, because he knows... that company can permanently capture those taxes (if they're very smart about how they handle their finances) and enhance their profits."

"You... have to have the knowledge to... make a very general estimate about the value of the underlying businesses. But you do not cut it close. That is what Ben Graham meant by having a margin of safety ."

"[T]he secret has been out for 50 years, ever since Ben Graham and Dave Dodd wrote Security Analysis , yet I have seen no trend toward value investing in... 35 years... There seems to be some perverse human characteristic that likes to make easy things difficult."

"There will continue to be wide discrepancies between price and value in the marketplace, and those who read their Graham and Dodd will continue to prosper."

"We're going to move a lot of crude (oil) in this country, and we have to learn how to do it very safely. "Buffett: Moving Oil By Rail Safely Is A Major Industry Concern" Investing.com (24 April 2014)"

"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble. "25 Best Warren Buffett Quotes" The Motley Fool (28 September 2014)"