Long ago, Ben Graham taught me that “Price is what you pay; value is what you get.” Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
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2008 Chairman's LetterWarren Buffett
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I believe that there are human stocks with whom it is physically unwise to intermarry, but to think that these stocks are all colored or that there are no such white stocks is unscientific and false.
W. E. B. DuBois
A random word collects a crowd; the easily bought victory makes them enthusiastic, but the more profound explanation puts them off, and if the price is what it must be in relation to the highest, then mockery gives the signal for retreat and gives the retreat the appearance of a glorious victory. Does not mockery always gain the highest at a bargain price! And yet how despicable to want to think that the price of the highest and most sacred, just like the price of temporal things, should be determined by an accident, by the scarcity or the abundance of the commodity in the country. On the other hand, how upbuilding it is to consider that this is not the case and that someone who fancies that he has bought the highest at a low price is simply mistaken, since the price is always the same. How sure and cheerful and resolute the soul becomes in the thought that no price is too high when that which one is buying is the highest.
Soren Aabye Kierkegaard
But now for the final exam: If you expect to be a net saver during the next five years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. In effect, they rejoice because prices have risen for the "hamburgers" they will soon be buying. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
Warren Buffett
Toto, I don't think we're talking white-socks-and-sandals any more.
Linus Torvalds
There taught us how to live; and (oh, too high
The price for knowledge!) taught us how to die.Thomas Tickell
Buffett, Warren
Buffon, Gianluigi
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