Bills Quote by Warren Buffett
“We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessmen. Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one-day drop in the Dow of 508 points, or treasury bill yields fluctuating between 2.8% and 17.4%.”
About This Quote
Source Letter to Shareholders, Berkshire Hathaway, 2023
He warns that ignoring economic forecasts is costly, citing historic unpredictable events that impacted markets.
In simple terms: Ignoring forecasts costs money; history shows surprise shocks.
Key Takeaway
Pay attention to macro trends.
Themes
economics
investment
risk management
Mood
cautious
analytical
Type
financial
strategic
When to use this quote
- investment strategy
- business planning
- risk assessment
Key Concepts
forecasting
historical volatility
Questions to Reflect On
- How do you balance forecasts with intuition?
- What signals matter most?
A Different Perspective
Forecasts can be wrong; overreliance may mislead.
![“That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than…” quote by Warren Buffett](https://sms4smile.com/quotes/img-quotes/ba1/warren-buffett-183_all-kinds_that-would-be-nice-if-people-stuck-treas_2128493.jpg)
![“[Sport officials] blocked their support of us. But those individuals [ Muhammad Ali, the Jim Browns, the Bill Russells, Kareem Abdul Jabbar ] were old enough, they were wise enough, and they knew their history and this is why they came out in support of us, because they knew that we had our finger…” quote by John Carlos](https://sms4smile.com/quotes/img-quotes/13b/john-carlos-16923_bills_sport-officials-blocked-their-support-of_4987.jpg)
![“[A]s you partake of the world's bill of fare, that's darned good advice to follow. Do a lot of spitting out the hot air. And be careful what you swallow.” quote by Dr. Seuss](https://sms4smile.com/quotes/img-quotes/da8/dr-seuss-1224_advice_a-s-you-partake-of-the-world-s-bill-of-f_6806.jpg)
![“I will not agree to have this bill [to repeal DADT ] go forward, because our economy is in the tank.” quote by John McCain](https://sms4smile.com/quotes/img-quotes/c2c/john-mccain-465_agree_i-will-not-agree-to-have-this-bill-to-re_7321.jpg)
