Able Quote by Warren Buffett
“As I have mentioned before, we cannot make the same sort of money out of permanent ownership of controlled businesses that can be made from buying and reselling such businesses, or from skilled investment in marketable securities. Nevertheless, they offer a pleasant long term form of activity (when conducted in conjunction with high grade, able people) at satisfactory rates of return.”
About This Quote
Source Letter to Shareholders, Berkshire Hathaway, 1999
Long‑term ownership of stable businesses yields modest returns, while active trading offers higher profits but requires skill and partnership.
In simple terms: Stable businesses give steady returns; trading can be more profitable.
Key Takeaway
Balance stable investments with strategic trading.
Themes
investment
business
patience
Mood
analytical
prudent
Type
financial
strategic
When to use this quote
- portfolio management
- retirement planning
- business acquisition
- market analysis
Key Concepts
finance
economics
Questions to Reflect On
- What mix of stability and activity suits your goals?
- How do you assess partnership quality?
A Different Perspective
Higher returns involve greater risk and effort.
