A Quote by Warren Buffett

The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.

Warren Buffett

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About Adopted Before Believe Both Business Buying Buying In Characteristics Comfort Concentration Conventional Decrease Disagree Diversification Dogma Economic Employed Feel Following Intensity Investor Investors Level Many May More Must Our Policy Portfolio Pundits Raises Risk Say Should Standard Strategy Than Therefore Thinks Well Which Would

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Warren Buffett
American - Businessman
Born: August 30, 1930

I still believe that for good business analysts a concentrated portfolio is a good strategy combined with a long term horizon. Once again, the secret to success in following the formula strategy is patience, a quality in short supply for both professionals and individual investors alike. I think investors should have a large portion of their assets in equities over time.

Joel Greenblatt

In choosing a portfolio, investors should seek broad diversification, Further, they should understand that equities--and corporate bonds also--involve risk; that markets inevitably fluctuate; and their portfolio should be such that they are willing to ride out the bad as well as the good times.

Harry Markowitz

Nearly all creators of Utopia have resembled the man who has toothache, and therefore thinks happiness consists in not having toothache. They wanted to produce a perfect society by an endless continuation of something that had only been valuable because it was temporary. The wider course would be to say that there are certain lines along which humanity must move, the grand strategy is mapped out, but detailed prophecy is not our business. Whoever tries to imagine perfection simply reveals his own emptiness.

George Orwell

The smart strategist allows strategy to be shaped by events. Good reactions can make great strategy. Strategy involves competition of goals, and the risk is the difference between those goals and the ability of the organization to achieve them. So part of the risk is created by the strategy.

Max McKeown

If you can't describe your strategy in twenty minutes, simply and in plain language, you haven't got a plan. 'But,' people may say, 'I've got a complex strategy. It can't be reduced to a page.' That's nonsense. That's not a complex strategy. It's a complex thought about the strategy.

Lawrence Bossidy

Stated in the simplest terms, the recognized solution to the problem of foodborne illness is a comprehensive prevention strategy that involves all participants in the food system, domestic and foreign, doing their part to minimize the likelihood of harmful contamination. And that is the strategy mandated by FSMA. It is not a strategy that assumes we can achieve a zero-risk food supply, but it is a strategy grounded in the conviction that we can better protect consumers and the economic vigor of the food system if everyone involved implements reasonably available measures to reduce risk.

Michael R. Taylor

If you believe in a security strategy - a strategy of more friends and fewer enemies, a strategy of greater cooperation and a strategy of keeping America better at home as we grow more diverse - we have to build the minds and hearts to build this kind of world.

William J. Clinton

The well-being of the British people and the health of our economy are far more important than any government's commitment to a particular strategy, but to change course now would be fatal to the whole counter-inflation strategy.

Geoffrey Howe

Being a good private equity investor is more complicated than it seems. I would say that there are a few characteristics that are important. If you look at the skill set that you need to ultimately be a successful private equity investor, at least at the senior level, you have to be, in this business, a good investor. You have to be able to help companies perform and you have to have judgment around exiting investments. If you look at the skill sets there, they include some things you can teach and some that you can't.

David Bonderman

There must be an opportunity that matches with our strategy. Just because we have a gap, we don't want to go and acquire anything and everything. What we acquire should fit in with our strategy, human resources and market expectations.

Adi Godrej

I believe that you have to understand the economics of a business before you have a strategy, and you have to understand your strategy before you have a structure. If you get these in the wrong order, you will probably fail.

Michael Dell

I believe that it must be the policy of the United States to support free peoples who are resisting attempted subjugation by armed minorities or by outside pressures. I believe that we must assist free peoples to work out their own destinies in their own way. I believe that our help should be primarily through economic and financial aid which is essential to economic stability and orderly political processes.

Harry S. Truman

While it might seem that anyone can be a value investor, the essential characteristics of this type of investor-patience, discipline, and risk aversion-may well be genetically determined.

Seth Klarman

The failure of national economic policy is costing us more than jobs; it has begun to weaken that uniquely American spirit of risk-taking, large ambition, and optimism about the future. We must rally them now to bold departures that rebuild our national morale as well as our material prosperity.

Mitch Daniels

Our national-security strategy must drive our military budget, rather than the budget setting our strategy.

Tom Cotton

Hussein has a strategy. I'm sure he'll implement that strategy, and it would be to our detriment. We're embarking on an exercise about which we know nothing.

John Hewson

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