Another NYSSA dedication for him from October, 2006.
"Not every company worked out, but enough of them did, so we had a pretty good record."
"There was 15% per year for the partners, and we got 5%. When you start with $100,000 dollars and you make 20%, that isn't a great deal of money."
"The value investors I know are honest people. Value investing seems to be made up of a people who are willing to look at the facts and make judgments on them, and not willing to take advantage of others." -- I couldn't agree more.
This weekend I'm going to attempt to update Mr. Market Blog. Sunday Schloss and tomorrows post will still be made, but if the website should go down I will have it fixed as fast as possible. Thanks for all your patience!
"You would think it was the the Mad Hatter's Tea Party. And the false precision of these people is unbelievable. They make the worst economics professors look like gods."
"Well, that's the end. I'll take questions as long as people can endure me."
"People were taught that nobody could beat the market. Next the professor went to two sigmas, and three sigmas, and four sigmas, and when he finally got to six sigmas of luck, people were laughing so hard he stopped doing it."
In March of 2008 some MBA students from the Ivey School of Business were lucky enough to meet Warren in Omaha. Below is the transcript of the event.
Some classic Buffett (Excerpts):
"Only listen to what [Mr. Market] says in the context of: when this guy gets way out of line I am going to wack him."
"Capitalism does have a tidal wave of prosperity, but it gets interrupted when people do foolish things."
"[A Harvard MBA student] said he was thinking about getting a job in management consulting next, because that would be the perfect culmination of his resume. I asked him how old he was. He said 30. I said 30 and you already got all this stuff and you are still thinking about spending another couple years doing something you dont really want to do because it will make your resume be even better? I said that sounds a little to me like saving up sex for your old age."
