A Quote by Warren Buffett
I always say that in investing you want to buy stock in a company that has a business that's so good that an idiot can run it, because sooner or later one will. We have a country like that.
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I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
If a lot of people feel like this company is undervalued and go out and buy the stock, the stock price will go up reflecting the higher value of this company. You might have information because you trade with them or because you've done some research on them.
In my business investing, you are buying a stock, and someone else is selling the stock. Right there, that's like a debate. Is the stock going up, or is it going to go down?
If we could muster the same determination and sense of responsibility that saves a country like Japan - or a company like Xerox - then investing to save women and children who are dying in the developing world would be very good business.
I am always a little skeptical on the water thing because I have been hearing that for 30 years, but one year it's going to be true. With the rising populations, Yemen could be the first country in the world, or Sana'a the first major city in the world, to run out of water, that's from Yemeni hydrological engineers and the United Nations. Sooner or later, all of these people, from 7 to 9 billion, all of them want to live like America, will be consuming so much more water that some of the societies will hit a wall without more sustainable environmental practices.
Buy into a company because you want to own it, not because you want the stock to go up.
Advertising is the best insurance that you can take out on your business. You can buy fire insurance on your stock of goods, but no company will issue a policy covering your business, the good will as they sometimes call it. You must insure yourself, and the best way to do it is by advertising. Good advertising kept up for a number of years gives you something that no fire can take away.
Make your company stock a consumer product. When consumers buy stock in your company, they'll never buy a competitive product. You've linked their financial future to yours.
Driving stock up from one day to the next is not what we are about. We are about building a good company and performing for the long term. I know everyone says that, that sounds trite when I repeat it that way, but that is and has always been our attitude about our business. If we do the right things, the stock price will take care of itself, and our shareholders will be rewarded.
Pose a political threat to Business As Usual, and sooner or later, mostly sooner, someone will try to kill you.
Sooner or later, the ones who told you that this isn't the way it's done, the ones who found time to sneer, they will find someone else to hassle. Sooner or later, they stop pointing out how much hubris you've got, how you're not entitled to make a new thing, how you will certainly come to regret your choices. Sooner or later, your work speaks for itself. Outlasting the critics feels like it will take a very long time, but you're more patient than they are.
We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as "focused" investing.
When you buy enough stocks to give you control of a target company, that's called mergers and acquisitions or corporate raiding. Hedge funds have been doing this, as well as corporate financial managers. With borrowed money you can take over or raid a foreign company too. So, you're having a monopolistic consolidation process that's pushed up the market, because in order to buy a company or arrange a merger, you have to offer more than the going stock-market price. You have to convince existing holders of a stock to sell out to you by paying them more than they'd otherwise get.
As president, I could run the Trump organization, great, great company, and I could run the company - the country. I'd do a very good job, but I don't want to do that.
Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.
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