A Quote by Whitney Tilson

Nirvana, to a value investor, is paying a cheap price for a company that is growing in value every year at a nice rate - this largely explains why today we own stocks like Berkshire Hathaway, McDonald's, Wal-Mart, Microsoft, Costco and Anheuser-Busch.

Whitney Tilson

Quote Topics

Cheap Company Costco Every Explains Growing Investor Largely Like McDonald Microsoft Nice Nirvana Own Paying Price Rate Stocks Today Value Wal-Mart Why Year

Quote Author

Whitney Tilson
American - Businessman
Born: 1966

We take the traditional value investor's process and just flip it around a little bit. The traditional value investor asks 'Is this cheap?' and then 'Why is it cheap?' We start by identifying a reason something might be mispriced, and then if we find a reason why something is likely mispriced, then we make a determination whether it's cheap.

David Einhorn

Kellogg's and Campbell's moats have also shrunk due to the increased buying power of supermarkets and companies like Wal-Mart. The muscle power of Wal-Mart and Costco has increased dramatically.

Charlie Munger

Every business tries to turn this year's success into next year's greater success. It's hard for me to see why Microsoft is sinful to do this. If it's a sin, then I hope all of Berkshire Hathaway's subsidiaries are sinners. Someone whose salary is paid by U.S.taxpayers is happy to dramatically weaken the one place where we're winning big?!

Charlie Munger

I've seen articles suggesting that Wal-Mart buys at prices lower than our competitors', and that this gives Wal-Mart an unfair advantage. I don't believe it... What we hear is concern that in some circumstances, Wal-Mart may actually be paying more than our competitors.

S. Robson Walton

Berkshire has the lowest turnover of any major company in the U.S.The Walton family owns more of Wal-Mart than Buffett owns of Berkshire, so it isn't because of large holdings. It's because we have a really unusual shareholder body that thinks of itself as owners and not holders of little pieces of paper.

Charlie Munger

I say at our management conferences that the amount Wal-Mart grows in just one year is the equivalent of Costco's size.

James Sinegal

I LOVE WAL-MART. I CONSIDER MY JOKES TO BE VERY JEUVINILLE. STUFF A 14 YEAR OLD WOULD LAUGH AT BECAUSE THATS THE SENCE OF HUMOR I HAVE. ALL THE STUFF I TALK ABOUT MAY NOT BE APPROPRIATE FOR CHURCH GROUPS HOWEVER WAL-MART AINT SUNDAY SCHOOL. AS LONG AS I DIDNT USE OFFENSIVE FOUL LANGUAGE I KNEW ID BE FINE. WAL-MART GETS IT, THATS WHY THEY BLOW AWAY THE COMPETITION. BESIDES ITS THERE STORE THEY CAN DO WHAT THEY WANT. THATS AMERICA BABY!

Larry the Cable Guy

The value of the security analyst to the investor depends largely on the investor's own attitude. If the investor asks the analyst the right questions, he is likely to get the right or at least valuable answers.

Benjamin Graham

Why should a company like Wal-Mart - who made $10 billion last year alone - be able to force taxpayers to foot the bill for their health-care costs?

John Sweeney

Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.

Seth Klarman

Anheuser-Busch gives two free cases of beer to its employees at all of its parks, like Busch Gardens. That's a comforting thought the next time you're getting ready to get on the roller coaster!

Jay Leno

Nobody forces you to work at Wal-Mart. Start your own business! Sell something to Wal-Mart!

Kevin O'Leary

I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics than bad.

Charlie Munger

Mr. Market does not always price stocks the way an appraiser or a private buyer would value a business. Instead, when stocks are going up, he happily pays more than their objective value; and, when they are going down, he is desperate to dump them for less than their true worth.

Benjamin Graham

Wal-Mart has become the whipping boy for political demagogues, unions and anti-traders. I suggest that they have the wrong target.... Wal-Mart exists and prospers because tens of millions of Americans find Wal-Mart to be a suitable source of goods and services..... unions and anti-traders should direct their outrage and condemnation at the tens of millions of Americans who shop at Wal-Mart and keep it in business.