A Quote by Warren Buffett
Our marketable equities tell us by their operating results - not by their daily, or even yearly, price quotations - whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it.
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In the financial markets, however, the connection between a marketable security and the underlying business is not as clear-cut. For investors in a marketable security the gain or loss associated with the various outcomes is not totally inherent in the underlying business; it also depends on the price paid, which is established by the marketplace. The view that risk is dependent on both the nature of investments and on their market price is very different from that described by beta.
Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests.
If you increase the number of rockets you build and you buy, then it's the scale of the economy, the price is going to come down. It may not come down in order of magnitude, but if several commercial ventures start being successful and there becomes a bigger market for these rockets, the price will naturally come down a bit. That's why I think Excalibur Almaz, we're a little bit unique in that we don't look at our so-called competition with disdain, we want them to succeed and it needs to have more than one player. Even if we are successful, we couldn't handle the entire market ourselves.
A successful business maximizes the present value of future earnings. The first requirement, therefore, of business success is sustainable profits. One-time winnings, in business as in casinos, are disappointing. We expect more from our investments than that.
We never tell our kids how to handle success, we never teach them what to do during times of failure. Someone should tell them to mellow down while they experience success so that they may have a long successful stint.
Electronic brains may help us to use our heads but will not excuse us from that duty, and as to our hearts-cardiograms cannot diagnose what may be most ill about them, or confirm what may be best. The faithful woman and the versatile brave man, the wakeful intelligence open to inspiration or grace-these are still exemplary for our kind, as they always were and always will be.
When tragedy strikes, or even when it looms, our families will have the opportunity to look into our hearts to see whether we know what we said we knew. Our children will watch, feel the Spirit confirm that we lived as we preached, remember that confirmation, and pass the story across the generations.
America faces many challenges...but the enemy I fear most is complacency. We are about to be hit by the full force of global competition. If we continue to ignore the obvious task at hand while others beat us at our own game, our children and grandchildren will pay the price. We must now establish a sense of urgency.
The question I ask myself daily is whether my smartphone has been my servant or a silent taskmaster. The truth is that our devices can serve us greatly in our walk with God, even in helping us rewire our brains in positive ways.
Going after a dream has a price. It may mean abandoning our habits, it may make us go through hardships, or it may lead us to disappointment, et cetera. But however costly it may be, it is never as high as the price paid by people who didn't live. Because one day they will look back and hear their own heart say: 'I wasted my life.'
We have built a company with a business mix and operating system that will allow us to deliver record results in any foreseeable economic climate, ... We have just completed a very successful management transition and I've never been more confident about the company's future.
As we continue to drive the benefits of integrating our enterprise skills, capabilities, and experience - what we call operating as 'One Boeing' - we will find new and better ways to engage and inspire employees, deliver innovation that drives customer success, and produce results to fuel future growth and prosperity for all our stakeholders.
Deep inside, our integrity sings to us whether we are listening or not. It is a note that only we can hear. Eventually, when life makes us ready to listen, it will help us to find our way home.
San Francisco is where gay fantasies come true, and the problem the city presents is whether, after all, we wanted these particular dreams to be fulfilled--or would we have preferred others? Did we know what price these dreams would exact? Did we anticipate the ways in which, vivid and continuous, they would unsuit us for the business of daily life? Or should our notion of daily life itself be transformed?
If therefore our houses be houses of the Lord, we shall for that reason love home, reckoning our daily devotion the sweetest of our daily delights, and our family worship the most valuable of our family comforts. This will sanctify to us all the conveniences of our houses, and reconcile us to the inconveniences of it.
There is abundant proof that the opening of our ports always tends to raise the price of foreign corn to the price in the English market, and not to sink the price of British corn to the price in the continental market.
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