We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.
--
1999 Berkshire Hathaway Annual Meeting, quoted in Whitney Tilson, Why Won't Buffett Invest in Tech Stocks? (March 6, 2000), Motley FoolWarren Buffett
» Warren Buffett - all quotes »
This is a war universe. War all the time. That is its nature. There may be other universes based on all sorts of other principles, but ours seems to be based on war and games. All games are basically hostile. Winners and losers. We see them all around us: the winners and the losers. The losers can oftentimes become winners, and the winners can very easily become losers.
William S. Burroughs
Dustin Hoffman and Al Pacino play losers very well. But my audience like to be in there vicariously with a winner. That isn't always popular with critics. My characters have sensitivity and vulnerabilities, but they're still winners. I don't pretend to understand losers. When I read a script about a loser I think of people in life who are losers and they seem to want it that way. It's a compulsive philosophy with them. Winners tell themselves, I'm as bright as the next person. I can do it. Nothing can stop me.
Clint Eastwood
If somebody else is making the rules for you, no matter how good the payoff is for you, you're being conned.
Jon Rappoport
The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.
Howard Raiffa
When I face an issue of great import that cleaves both constituents and colleagues, I always take the same approach. I engage in deep deliberation and quiet contemplation. I wait to the last available minute and then I always vote with the losers. Because, my friend, the winners never remember and the losers never forget.
Everett Dirksen
Buffett, Warren
Buffon, Gianluigi
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z