I dread success. To have succeeded is to have finished one's business on earth, like the male spider who is killed by the female the moment he has succeeded in his courtship. I like the state of continual becoming, with a goal in front and not behind.
Physically there is nothing to distinguish human society from the farm-yard except that children are more troublesome and costly than chickens and calves and that men and women are not so completely enslaved as farm stock.
If you want your business to survive for 100 years, you've got to make it through every single day for 100 years. It's not enough to do it 99.9% of the time.
The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.
Preaching has always been the business of the Asiatics. The Western people are grand in organisation, social institutions, armies, governments, etc.; but when it comes to preaching religion, they cannot come near the Asiatic, whose business it has been all the time, and he knows it, and he does not use too much machinery.