Businesses always have opportunities to improve service, product lines, manufacturing techniques, and the like, and obviously these opportunities should be seized. But a business that constantly encounters major change also encounters many chances for major error
When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a break requires - now or down the line - that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can however, determine who pays for lunch.
I wouldn't want to manufacture cigarettes. But if I owned - we do own Costco. Do they sell them? Yes. So I don't have a problem owning stock in that. But I just wouldn't want to - I wouldn't want to do it myself. I basically think, if anything is sufficiently antisocial, society should do something about it. But that's a separate question. But - and I don't think there's any company that I have seen that's 100 percent pure.
It is unquestionably true that the investment companies have their money more conventionally invested than we do. To many people conventionality is indistinguishable from conservatism. In my view, this represents erroneous thinking. Neither a conventional nor an unconventional approach, per se, is conservative.
I have no idea on timing. It’s easier to tell what will happen than when it will happen. I would say that what is going on in terms of trade policy is going to have very important consequences.
Who would think of buying or selling a private business because of someone's guess on the stock market? The availability of a quotation for your business interest (stock) should always be an asset to be utilized if desired. If it gets silly enough in either direction, you take advantage of it. Its availability should never be turned into a livability whereby its periodic aberrations in turn formulate your judgements.
Never give up searching for the job that you’re passionate about. Try to find the job you’d have if you were independently rich. Forget about the pay. When you’re associating with the people that you love, doing what you love, it doesn’t get any better than that.
You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
The only question is whether you’re going to do it today or tomorrow. If you keep saying you’re going to do it tomorrow,
you’ll never do it. You have to get on it today.
The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life.
If we start deciding, based on guesses or emotions, whether we will or won't participate in a business where we should have some long run edge, we're in trouble.
With a wonderful business, you can figure out what will happen; you can't figure out when it will happen. You don't want to focus on when, you want to focus on what. If you're right about what, you don't have to worry about when