A Quote by Charlie Munger
One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work hard all year and there is your profit sitting in the yard. We avoid businesses like that. We prefer those that can write us a check at the end of the year.
Related Quotes
There are two kinds of businesses: The first earns 12%, and you can take it out at the end of the year. The second earns 12%, but all the excess cash must be reinvested - there's never any cash. It reminds me of the guy who looks at all of his equipment and says, 'There's all of my profit.' We hate that kind of business.
The great virtue of free enterprise is that it forces existing businesses to meet the test of the market continuously, to produce products that meet consumer demands at lowest cost, or else be driven from the market. It is a profit-and-loss system. Naturally, existing businesses generally prefer to keep out competitors in other ways. That is why the business community, despite its rhetoric, has so often been a major enemy of truly free enterprise.
I've always been business-minded. I worked in corporate America before becoming an actress and knew that acting wasn't the end but a means to an end. It gave me the platform and the exposure I needed to do my philanthropic work. It also gave me the financial security to focus on my other businesses, start new businesses, and even help other people start businesses.
I would prefer it if people thought that I didn't work hard, that I just played the guitar for three minutes a week and was like, 'Check out this song - what do you think?' That would be ideal. I would prefer telling people that I'm just truly talented.
One way we gave small businesses more money to invest was by extending tax provisions on expensing. This allows businesses to immediately write off things like equipment, without being burdened by depreciation requirements.
They already know all about brands... but what 16- and 17-year-olds won't necessarily have is experience of the world of work. The more that businesses get involved with schools, the better, because businesses sometimes complain that students don't have what they require to succeed in work.
There can be associations - enlightened businesses, for example - that do not work on the basis of us against them or wanting profit as the main motivating force behind what they do.
We regard using [a stock's] volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return. Some great businesses have very volatile returns - for example, See's [a candy company owned by Berkshire] usually loses money in two quarters of each year - and some terrible businesses can have steady results.
At the end of the day local authorities are responsible for economic growth in their area. They don't buy and sell businesses, they don't build businesses, what they do is work to attract businesses their area, through a combination of things.
Ten percent of American businesses disappear every year. ... It's far higher than the failure rate of, say, Americans. Ten percent of Americans don't disappear every year. Which leads us to conclude American businesses fail faster than Americans, and therefore American businesses are evolving faster than Americans.
Every year for New Years I write down all of my goals and dreams and put them in my Bible. At the end of the year I go and pull the paper out and check this off and check that off.
Traditional businesses can say, 'We're going to sell widgets to people, and it will make X amount of profit.' But new business models are hard.
When the government takes more money out of the pockets of middle class Americans, entrepreneurs, and businesses, it lessens the available cash flow for people to spend on goods and services, less money to start businesses, and less money for businesses to expand - i.e. creating new jobs and hiring people.
Then by the springtime, you'll see us moving an effort to cut taxes for working families, small businesses and family farms to reform our business taxes in this country so that American businesses can compete more effectively with businesses around the world.
For a long time, the for-profit world has told us in the not-for-profit sector to behave more like businesses.
Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.
Related Authors
Bill Gates Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Elon Musk Quotes
South African
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman