“Though marginal business purchased at cheap prices may be attractive as short-term investments, they are the wrong foundation on which to build a large and enduring enterprise“ Warren Buffett

The time when Buffett bought stock in a duck club: Delta Duck Club Delta Duck Club had discovered oil on their land and had $20 000/share is cash and was earning $7000/share after tax. Buffett bought a share at $29 000

“What you have to learn is to fold early when the odds are against you, or if you have a big edge, back it heavily because you don’t get a big edge often.” — Charlie Munger

$BRK This is one of the smartest investments I’ve ever seen and what makes it so powerful is how boring it looks on the surface. Buffett borrowed long term money in Japan at around 1.2%. That’s basically free capital. Then he used that money to buy large Japanese trading

Warren Buffett: "If I can add 1% or 5% to my net worth by being around people who make me want to throw up, I'm not interested." "If you go into business with somebody who causes your stomach to churn, I say that's a lot like marrying for money. It's probably not a very good

“The secret to life is weak competition” “Somebody asked, How do you beat Bobby Fischer, the American Chess Grandmaster? The answer is, you play him at any game except chess” — Warren Buffett. Berkshire Meet. 1998

“You can’t be a good value investor without being an independent thinker. You’re seeing valuations that the market is not appreciating. And it’s critical that you understand why the market isn’t seeing the value.” — Joel Greenblatt

Jim Simons understood something most traders don't: Your edge has an expiration date. Adapt or die.

This paragraph by C.S. Lewis hits so hard: “Good and evil both increase at compound interest. That is why the little decisions you and I make every day are of such infinite importance. The smallest good act today is the capture of a strategic point from which, a few months

The great Lloyd Blankfein on Bitcoin: “It’s not a medium of exchange…it’s not a good store of value…it’s not an asset you retreat to when you need safety.” “It could go to a million dollars for a bitcoin, but it’s going to get there without me.” Good inter with ARS.

Markets are 5% to 6% cheaper, we’re not in it to make 5% or 6%.

BREAKING: US oil prices surge above $108/barrel, now up +25% over the last week. That’s nearly +$10/barrel since President Trump’s “address to the nation” last night.

Jamie Dimon, CEO of JPMorgan Chase, says that US Government raising taxes doesn’t do anything to help the average American He says raising taxes does nothing because Congress just launders the money to their friends, special interest groups and “17,000 lobbying groups” “I don't

Contrarian Research Report: May 8, 1995

‘Buffett does business in a way only he can pull off: a fair offer, no negotiation, that's it. With Warren, you get one shot. If he doesn't like your proposal, or you don't like his, it's over.’ - Lloyd Blankfein

Nick Sleep on holding cash "Whilst we are conscious that holding cash does not meet our long term investment goals, we are in no hurry to invest the money in companies that do not meet our criteria."

Golden Tempo was literally dead last in the final turn and then outkicked everyone to win the Kentucky Derby. What an insane finish.

Howard Marks yesterday: “I don’t know enough to be confident in this.” Marks was asked about AI and gave a response every investor would do well to get comfortable saying. Whether its AI or another sector, recognizing the limits of our knowledge is everything, as Buffett

My thoughts on $BRK People overcomplicate $BRK because they try to value every piece perfectly down to the decimal. They debate price to book, intrinsic value formulas, and build giant spreadsheets modeling every subsidiary. Meanwhile I look at it much more simply. $BRK has