“Buffett also reaffirmed that they like John Gutfreund, Chairman of Salomon Brothers, very much. Munger (whose favorite expression seemed to be, “It’s one tough business.”) made one of his only enthusiastic comments of the day: “Salomon is deep in talent—the… — Daniel Pecaut Copy Share Image
“Buffett pointed out that when the investment tide goes out, you will see who has been swimming naked.” — Daniel Pecaut Copy Share Image
“If investors only had to study the past, the richest people would be librarians.” — Daniel Pecaut Copy Share Image
“the single biggest outcome of the Internet has been little understood: buyers are the winners.” — Daniel Pecaut Copy Share Image
“average college student has the same standard of living as he does. Same food. No important difference in clothes, cars, TVs.” — Daniel Pecaut Copy Share Image
“Buffett added that there is a big difference between identifying a growth industry and minting money. He noted that AT&T’s return on equity over… — Daniel Pecaut Copy Share Image
“After you have enough for daily life, all that matters is your health and those you love.” — Daniel Pecaut Copy Share Image
“To a question about what books to read, Munger replied that he is a biography nut and heartily recommended biographies as a way to… — Daniel Pecaut Copy Share Image
“the real key is to be able to figure out what the average profitability of the business will be over the long term and… — Daniel Pecaut Copy Share Image
“The right manager can have an absolutely huge impact. Find people with brains, energy and integrity,” — Daniel Pecaut Copy Share Image
“Tom Murphy, CEO of Capital Cities/ABC and considered by Buffett to be the best business manager in the country, prays every day to be… — Daniel Pecaut Copy Share Image
“There are essentially five things public corporations can do with a dollar earned: reinvest in the business, acquire other businesses or assets, pay down… — Daniel Pecaut Copy Share Image
“rather than worry about economic projections, these brilliant investors focus on finding good businesses at bargain prices within our resilient economy. On” — Daniel Pecaut Copy Share Image
