Mr. Buffett's Advice Me Centered

He was so clever coming up with this too: Assiduity is the ability to sit on your ass and do nothing until a great opportunities presents itself

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Mr. Buffett also came up with this: Buy a stock the way you would buy a house. Understand and like it such that youd be content to own it in the absence of any market.

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I wonder what inspired this quote too: Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You cant produce a baby in one month by getting nine women pregnant.

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I wonder what inspired this quote too: Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.

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Another sage word from Mr. Buffett is: Someones sitting in the shade today because someone planted a tree a long time ago.

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How can you use this quote too: Charlie and I would follow a buy-and-hold policy even if we ran a tax-exempt institution.

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Another sage word from Mr. Buffett is: Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a fly epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.

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Mr. Buffett also said this: Time is the friend of the wonderful company, the enemy of the mediocre.

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His mind produced this as well: When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

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I think about this quote a lot too: f you arent willing to own a stock for ten years, dont even think about owning it for ten minutes

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I think about this quote a lot too: Only buy something that youd be perfectly happy to hold if the market shut down for 10 years.

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I wonder what inspired this quote too: I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

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Mr. Buffett also came up with this: We select such investments on a long-term basis, weighing the same factors as would be involved in the purchase of 100% of an operating business: (1) favorable long-term economic characteristics; (2) competent and honest management; (3) purchase price attractive when measured against the yardstick of value to a private owner; and (4) an industry with which we are familiar and whose long-term business characteristics we feel competent to judge.

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I think about this quote a lot too: If each of us hires people who are smaller than we are, we shall become a company of dwarfs. But, if each of us hires people who are bigger than we are, we shall become a company of giants.

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I think you should take this into consideration too: Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you dont have the first, the other two will kill you. You think about it; its true. If you hire somebody without [integrity], you really want them to be dumb and lazy.

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I think you should take this into consideration too: Having first-rate people on the team is more important than designing hierarchies and clarifying who reports to whom.

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He was so clever coming up with this too: Culture, more than rule books, determines how an organization behaves.

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Mr. Buffett also came up with this: Rationality frequently wilts when the institutional imperative comes into play. For example: (1) As if governed by Newtons First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated.

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Another sage word from Mr. Buffett is: In the long run managements stressing accounting appearance over economic substance usually achieve little of either.

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He was so clever coming up with this too: Talking to Time Magazine a few years back, Peter Drucker got to the heart of things: ‘I will tell you a secret: Dealmaking beats working. Dealmaking is exciting and fun, and working is grubby. Running anything is primarily an enormous amount of grubby detail work . . . dealmaking is romantic, sexy. Thats why you have deals that make no sense.