Bitcoin is ingenious, and blockchain is important, but Bitcoin has no unique value at all. It doesn’t produce anything. You can stare at it all day, and no little Bitcoins come out or anything like that. It’s a delusion, basically.
Warren Buffett Quotes
The way to get a good partner is to be a good partner, and these are very old-fashioned ideas and they just work so fabulously well.
I’ll tell you why I like the cigarette business. It costs a penny to make. Sell it for a dollar. It’s addictive. And there’s fantastic brand loyalty.
Only when the tide goes out do you discover who’s been swimming naked.
As far as I am concerned, the market doesn’t exist. It is there only as a reference point to see if anybody is offering to do anything foolish. When we invest in stocks, we invest in businesses.
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.