A Quote by Warren Buffett
After 25 years of buying and supervising a great variety of businesses, Charlie [Munger] and I have not learned how to solve difficult business problems. What we have learned is to avoid them. To the extent we have been successful, it is because we have concentrated on identifying one-foot hurdles that we could step over rather than because we acquired any ability to clear seven-footers.
Related Quotes
I learned from the Macarturos. I had never been at a table with a labor organizer and a playwright and a performance artist and an anthropologist and a human rights lawyer. Usually at most gatherings, it's all writers. But suddenly I was at a table with all these different people and I learned from each of them, learned from the work they're doing, learned new ways to solve my problems.
Wherever I've been, and I've been to over 20, maybe 25, countries in Africa, I've noticed how their backbone is broken. They don't have any confidence in themselves. They always think a white man will solve their problems from outside for them.
You know, sometimes people never get to learn how successful they could have been because they give up too easily. If I've learned one thing in all my years in the business, it's that often things don't work out the way you want at first. But that doesn't mean you should give up.
The people who built Silicon Valley were engineers. They learned business, they learned a lot of different things, but they had a real belief that humans, if they worked hard with other creative, smart people, could solve most of humankind's problems. I believe that very much.
I learned many lessons from my first race with my heroes. I learned it was easier to breathe when I cried, so I cried often and without shame. I learned that a teammate's faith in you can propel you up any mountain. I learned that winning requires an entirely different mind-set than not losing. I learned that the best teams in the world share not only their strengths but also their weaknesses. I learned that you don't inspire your teammates by showing them how amazing you are. You inspire them by showing them how amazing they are.
No scientist is admired for failing in the attempt to solve problems that lie beyond his competence. ... Good scientists study the most important problems they think they can solve. It is, after all, their professional business to solve problems, not merely to grapple with them.
The murder clearance rate now in my city Baltimore is almost non-existent. Nobody can solve a murder, nobody can do any actual police work, because they've learned how to do bad police work, chase drugs. Fighting vice, while being unable to respond to sin. Generations of cops have learned how not to police work by policing the drug war. Not only are they police brutal, they're ineffective. Baltimore is more violent than it has ever been in modern history.
Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.
I could have protested of course, who says I couldn't--I could have risen to my feet at any moment, walked up to them, and--no matter how difficult it would have been--made it abundantly clear that I was not seventeen but thirty. I could have--yet I couldn't because I didn't want to, the only thing I wanted was to prove that I was not an old-fashioned boy!
Buying a share of a good business is better than buying a share of a bad business. One way to do this is to purchase a business that can invest its own money at high rates of return rather than purchasing a business that can only invest at lower ones. In other words, businesses that earn a high return on capital are better than businesses that earn a low return on capital.
It is the most powerful submission in the sport. It is a beautiful thing. You're holding them into you, their back is on you, and you are basically choking them gradually like a boa constrictor and once you've got them, the pressure goes on and they have to submit or they are going to stop breathing. It happened to me early in my career, and I panicked, and gave in, I tapped out too early. I learned a lot from that. I learned from it, learned how to do the move better, learned how to avoid it being done to me.
Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
Most people will solve the problems they know how to solve. Roughly speaking they will solve B+ problems instead of A+ problems. A+ problems are high impact problems for your company but they're difficult problems.
As a kid, I took piano lessons, and I didn't like it. It wasn't cool. I was into Duran Duran and rock music. I didn't have any interest in piano. I did it for three years, and because of piano, I learned percussion. I learned scales. I learned how to sing. Piano gives you all of the basics of those things.
There are plenty of skills I've learned from playing video games. It's more interactive than watching TV, because there are problems to solve as you're using your brain.
For over forty years, I've been one of the most passionate believers in entrepreneurs. From day one, I've learned that too many small businesses are predicated on business models that the owner barely understands, and then, those same men and women are baffled when their business dreams are overwhelmed with struggles they never foresaw.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger 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