Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.
It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.
If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.
I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to the unprepared.
We know what happens when Europeans start dividing themselves up and emphasizing their differences and seeing a competition between various countries in a zero sum way.
Do you realize we've got 250 million years of coal? But coal has got environmental hazards to it, but there's-I'm convinced, and I know that we-technology can be developed so we can have zero-emissions coal-fired electricity plants.
I'm asking Congress to pass my Zero Down Payment Initiative. We should remove the 3 percent down payment rule for first time home buyers with FHA-insured mortgages.
If I were to write anything at all, it would turn out to be nothing but talk about movies. In other words, take 'myself,' subtract 'movies,' and the result is 'zero.'
I'm asking Congress to pass my Zero Down Payment Initiative. We should remove the 3 percent down payment rule for first time home buyers with FHA-insured mortgages.
The empty mind - the pure mind - is not a blank, zero-land, where you're not feeling or caring about anything. It's an effulgence of the mind. It's a brightness that is truly sensitive and accepting. It's an ability to accept life as it is. When we accept life as it is, we can respond appropriately to the way we're experiencing it, rather than just reacting out of fear and aversion.
I bought a company in the mid-90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
This is what I find most magnetic about successful givers: they get to the top without cutting others down, finding ways of expanding the pie that benefit themselves and the people around them. Whereas success is zero-sum in a group of takers, in groups of givers, it may be true that the whole is greater than the sum of the parts.
The sex illusion is not a fixed quantity: not what mathematicians call a constant. It varies from zero in my wife's case to madness in that of our stepsister.
It is always for greater joy that you give up the lesser. This is practical religion-the attainment of freedom, renunciation. Renounce the lower so that you may get the higher. Renounce! Renounce! Sacrifice! Give up! Not for zero. Not for nothing. But to get the higher.
Say So'ham, So'ham whatever comes. Tell yourself this even in eating, walking, suffering. Tell the mind this incessantly-that what we see never existed, that there is only I. Flash-the dream will break! Think day and night, this universe is zero, only God is. Have intense desire to get free.