Friends
2. "Gold is a barren asset; bonds are seldom rewarding to investors; well chosen productive asset like common stocks and land are the logical prospects to deliver superior returns."
3. When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact. You should invest in a business that even a fool can run, because someday a fool will.
4. Never invest in a business you can not understand.
5. you should get greedy when others are fearful and fearful when others are greedy.
6. It is better to be approximately right than precisely wrong.
7. It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
8. A very rich person should leave his kids enough to do any thing but not enough to do nothing.
These apart the book gives insight into lot of other issues related with Warren.
CP
Recently finished a wonderful book "Tap Dancing to Work" by Carol J. Loomis. This book is basically compilation and analysis of Annual Letters, Comments and Interviews of Legendry Warren Buffet. This covers his entire professional life and more particularly from 1966-2012. His straightforwardness, Simplicity, indepth knowledge of subject and communication style is worth reading. Even jokingly he would comment in such a way that the message would go loud and clear. He is truly god of investment and management. Here are some of his comments I noticed in the book:
1. " All I want to know is where I am going to die so I will never go there."2. "Gold is a barren asset; bonds are seldom rewarding to investors; well chosen productive asset like common stocks and land are the logical prospects to deliver superior returns."
3. When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact. You should invest in a business that even a fool can run, because someday a fool will.
4. Never invest in a business you can not understand.
5. you should get greedy when others are fearful and fearful when others are greedy.
6. It is better to be approximately right than precisely wrong.
7. It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
8. A very rich person should leave his kids enough to do any thing but not enough to do nothing.
These apart the book gives insight into lot of other issues related with Warren.
CP
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