A Quote by Warren Buffett
The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.
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For thirty years now, in times of stress and strain, when something has me backed against the wall and I'm ready to do something really stupid with my anger, a sorrowful face appears in my mind and asks... "Problem or inconvenience?" I think of this as the Wollman Test of Reality. Life is lumpy. And a lump in the oatmeal, a lump in the throat, and a lump in the breast are not the same lump. One should learn the difference.
You need to balance arrogance and humilitywhen you buy anything, it's an arrogant act. You are saying the markets are gyrating and somebody wants to sell this to me and I know more than everybody else so I am going to stand here and buy it. I am going to pay an 1/8th more than the next guy wants to pay and buy it. That's arrogant. And you need the humility to say 'but I might be wrong.' And you have to do that on everything
Every two weeks, I'd get a small pay-check and notice the line where federal and state income taxes were deducted from my wages. At least as often, our drug-addict neighbor would buy T-bone steaks, which I was too poor to buy for myself but was forced by Uncle Sam to buy for someone else.
That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.
One of life's best coping mechanisms is to know the difference between an inconvenience and a problem. If you break your neck, if you have nothing to eat, if your house is on fire, then you’ve got a problem. Everything else is an inconvenience. Life is inconvenient. Life is lumpy. A lump in the oatmeal, a lump in the throat and a lump in the breast are not the same kind of lump. One needs to learn the difference.
All taxes, except a 'lump-sum tax,' introduce distortions in the economy. But no government can impose a lump-sum tax - the same amount for everyone regardless of their income or expenditures - because it would fall heaviest on those with less income, and it would grind the poor, who might be unable to pay it at all.
Life is lumpy. And a lump in the oatmeal, a lump in the throat, and a lump in a breast are not the same lump. One should learn the difference.
It is hard to communicate understanding because that is something you get by living with a problem for a long time. You study it, perhaps for years, you get the feel of it and it is in your bones. You can't convey that to anyone else. Having studied the problem for five years you may be able to present it in such a way that it would take somebody else less time to get to that point than it took you. But if they haven't struggled with the problem and seen all the pitfalls, then they haven't really understood it.
More than half of all people filing income tax forms use someone else to prepare the forms for them. Then they have to sign under penalty of perjury that these forms are correct. But if they were competent to determine that, why would they have to pay someone else to do their taxes for them in the first place?
At first I was protecting you two because I promised. Now even if I hadn't promised, I would. You two are like kittens to me. I won't fail you again." I'll admit I got a lump in my throat. I'd never been called someone's kitten before. Sadie sniffled. She brushed something from under her eye. "You're not going to wash us, are you?
In America, people buy cars, and they put very little money down. They get a car, and they go to work. The work pays them a salary; the salary allows them to pay for the car over time. The car pays for itself.
Nothing frustrates me more than someone who reads something of mine or anyone else's and says, angrily, 'I don't buy it.' Why are they angry? Good writing does not succeed or fail on the strength of its ability to persuade. It succeeds or fails on the strength of its ability to engage you, to make you think, to give you a glimpse into someone else's head—even if in the end you conclude that someone else's head is not a place you'd really like to be.
I am a buyer of blank books. Kids find it interesting that I would buy a blank book. They say, Twenty-Six dollars for a blank book! Why would you pay that? The reason I pay twenty-six dollars is to challenge myself to find something worth twenty-six dollars to put in there. All my journals are private, but if you ever got hold of one of them, you wouldn't have to look very far to discover it is worth more than twenty-six dollars
I prefer lump charcoal over briquettes but I do use both for different reasons and different recipes and sometimes I combine them both when I really want the woodsy aroma from the lump charcoal and long, even heat from the briquettes.
If somebody tweets 'I like Coca-Cola,' does that mean that they're actually going to buy Coca-Cola? One can? Two cans? Three cans? If they retweet someone else's Tweet, does that mean they're going to buy it?
I'm not a structured writer. I have the carpet-laying theory which is you put it out there until there is a lump and you keep pushing the lump across the floor until the whole thing just lies flat. Every time you write there is going to be a bulge, something doesn't work and you have to find your way to get it to the other end.
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