After 25 Years Of Buying And Supervising

Intrinsic Value Can Be Defined Simply: It Is The Discounted Value Of The Cash That Can Be Taken Out Of A Business During Its Remaining Life.

Our Approach Is Very Much Profiting From Lack Of Change Rather Than From Change.

I Read Annual Reports Of The Company I'm Looking At And I Read The Annual Reports Of The Competitors - That Is The Main Source Of Material.

I Never Buy Anything Unless I Can Fill Out On A Piece Of Paper My Reasons. I May Be Wrong, But I Would Know The Answer To That ...i'm Paying $32 Billion Today For The Coca Cola Company Because... If You Can't Answer That Question, You Shouldn't Buy It. If You Can Answer That Question, And You Do It A Few Times, You'll Make A Lot Of Money.

Can You Know You Can Have Institutions That Put Curbs On That In Various Ways, And Actually What The Banks, You Know, They Have Various Capital Ratios And That Sort Of Thing, But The Banks Got Around Them, I Mean, They Set Up Sieves And That Sort Of Thing Just To Get More Leverage. People Love Leverage When It's Working. I Mean, It's So Easy To Borrow Money From A Guy At X And Put It Out At X.