A Quote by Whitney Tilson
We like to say we pray in the church of Graham, Dodd, Buffett, and Munger.
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As Graham, Dodd and Buffett have all said, you should always remember that you don't have to swing at every pitch. You can wait for opportunities that fit your criteria and if you don't find them, patiently wait. Deciding not to panic is still a decision.
Buffett found it 'extraordinary' that academics studied such things. They studied what was measurable, rather than what was meaningful. 'As a friend [Charlie Munger] said, to a man with a hammer, everything looks like a nail.
Urge all of your men to pray, not alone in church, but everywhere. Pray when driving. Pray when fighting. Pray alone. Pray with others. Pray by night and pray by day. Pray for the cessation of immoderate rains, for good weather for Battle.Pray for the defeat of our wicked enemy whose banner is injustice and whose good is oppression. Pray for victory. Pray for our Army, and Pray for Peace. We must march together, all out for God.
Before starting my own investment funds, the only models I was aware of were those of Warren Buffett and Charlie Munger. Their models made a lot of sense to me, so I cloned them.
We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.
The pure administration of Graham-and-Doddery really needs a long-term lock-up like Warren Buffett has, or it will have occasional quite dreadful client problems.
At one point, I recognized that Warren Buffett, though he had every advantage in learning from Ben Graham, did not copy Ben Graham but, rather, set out on his own path and ran money his way, by his own rules... I also immediately internalized the idea that no school could teach someone how to be a great investor.
President Obama likes to talk about the Buffett Rule. Well, here's a Buffett Rule that all Americans should be able to support: mom and pop businesses should not pay a higher tax rate than Fortune 500 corporations like Warren Buffett's.
There's a lot of talk coming from Citigroup about how Dodd-Frank isn't perfect. Let me say this to anyone who is listening at Citi: I agree with you. Dodd-Frank isn't perfect. It should have broken you into pieces.
Graham was my father's second name, so I took Graham because Lukas Graham sounded cool.
Buffett's methodology was straightforward, and in that sense 'simple.' It was not simple in the sense of being easy to execute. Valuing companies such as Coca-Cola took a wisdom forged by years of experience; even then, there was a highly subjective element. A Berkshire stockholder once complained that there were no more franchises like Coca-Cola left. Munger tartly rebuked him. 'Why should it be easy to do something that, if done well two or three times, will make your family rich for life?
The only advice that I know to give is to pray for your leaders. Whether you like it or not, we have a new president. As a church body, we need to remember these leaders, whether they are in office or not. Leaders in the workplace or the church, we need to remember them because they face some really hard decisions. So we need to pray for wisdom and peace and understanding and for patience, and for any and everything really because they're going to need it. So let's just gather around them and pray that God's will be done on earth, versus someone's agenda.
Keep to the ancient way and custom of the Church, established and confirmed by so many Saints under the inspiration of the Holy Spirit. And live a new life. Pray, and get others to pray, that God not abandon His Church, but reform it as He pleases, and as He sees best for us, and more to His honor and glory.
There's Lindsey Graham 1.0 and then there's Lindsey Graham 2.0. I could not beat Lindsey Graham 1.0. That was the John McCain-Lindsey Graham.
In a speech in South Carolina, Donald Trump responded to criticisms from Senator Lindsey Graham by giving out Graham's personal cellphone number. Graham knew something was up when he saw he had more than one missed call.
I don't like when people say, 'I'll pray for you. I'm going to pray for you. Praying for you.' You're going to pray for me? So you're going to sit at home and do nothing? 'Cause that's what your prayers are; you doing nothing while I struggle with a situation. Don't pray for me - make me a sandwich or something.
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