34 Tips about Analogies

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Why potential buyers even look at projections prepared by sellers baffles me. Charlie and I never give them a glance, but instead keep in mind the...
Of all our activities at Berkshire, the most exhilarating for Charlie Munger and me is the acquisition of a business with excellent economic...
An investor in a panicky market faces the same predicament as a moviegoer in a crowded theater after somebody shouts 'Fire!' Staying put is the...
Investing is not like Olympic diving where if you can do a very difficult dive, the payoff is greater - if you do it well - than if you do some very...
Warren Buffett has said that Wall Street is a little like a movie theater that has a special rule where if you want to leave the theater you need to...
I'd compare stock pickers to astrologers, but I don't want to bad-mouth the astrologers. (Stated by a leading efficient market theorist)
A bear in a bull market is like a prohibitionist at a cocktail party. At first, some people take his admonitions to heart and sip soda water. But as...
You have to have the knowledge to enable you to make a very general estimate about the value of the underlying business. But you do not cut it close....
Catch a man a fish, and you can sell it to him. Teach a man to fish, and you ruin a wonderful business opportunity.
The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in...
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