Quotes About Buffett

I once stumped Jimmy Buffett by calling him a saint.

EBITDA, as we noted earlier, is no longer Wall Street's favorite measure to watch. Now the hot metric is free cash flow. Some companies have looked at free cash flow for years. Warren Buffett's Berkshire Hathaway is the bestknown example, though Buffett calls it owner earnings. As Buffett's term suggests, it's an important metric for entrepreneurial companies.

I wouldn't mind going to jail if I had three cellmates who played bridge.

I am not saying that Warren Buffett is not skilled; only that a large population of random investors will almost necessarily produce someone with his track records just by luck.

Buffett being penalized for underperforming versus managers riding the long side of the dot-com bubble is a perfect illustration of a common investor mistake—failing to realize that often the managers with the highest returns achieve those results because they're taking the most risk, not because they have the greatest skill.

Over and over again, financial experts and wonkish talking heads endeavor to explain these mysterious, 'toxic' financial instruments to us lay folk. Over and over, they ignobly fail, because we all know that no one understands credit default obligations and derivatives, except perhaps Mr. Buffett and the computers who created them.

Buffett knows that a down market is when investors should be buying, not selling.

It is not greed that drives the world but envy.

Loss of focus is what most worries Charlie and me when we contemplate investing in businesses that in general look outstanding.

Study the Opposites In addition to studying his competition in tech and early-stage investing, Marc studies value investors on the completely opposite side of the spectrum, such as Warren Buffett and Seth Klarman. This doesn't mean they invest in the same types of companies; rather, the synergy is related to first principles.

Buffett told him, "Investing in yourself is the most important investment you'll ever make in your life. . . . There's no financial investment that'll ever match it, because if you develop more skill, more ability, more insight, more capacity, that's what's going to really provide economic freedom. . . . It's those skill sets that really make that happen.

Well, it may be all right in practice, but it will never work in theory

Drive-in, you guzzle gin, commit a little mortal sin.

Buffett has become the entrepreneur whom progressives endlessly flatter, because he flatters their prejudices and

The lesson of Buffett was: To succeed in a spectacular fashion you had to be spectacularly unusual.