Tap Dancing to Work - Carol Loomis
Summary
- A collection of articles, essays and general inforarmation about Warren Buffett, from his apparently close friend Carol Loomis
Details
- Be suspicious of yardsticks as they tend to be discarded when they dont yield favorable results
- Better to buy something good quality for a fair price than something fair quality for a good price
- Institutions generate their own momentum that is difficult to change
- Choose business partners who share your vision but are different enough to bring something new to the table
Quotes
- A compact organization lets all of us spend our time managing the business rather than managing each other - Warren Buffett
- There’s never just one cockroach in the kitchen - Warren Buffett
- Rationality is essential when others are making decisions based on short-term greed or fear, that is when the money is made - Warren Buffett
- The absolute most that the owners of a business, in aggregate, can get out of it in the end - between now and Judgment Day - is what that business earns over time - Warren Buffett
- Buffett is probably one of the few CEOs in America who spends much of the day reading. Buffett doesn’t e-mail, and there are no time-squandering meetings at Berkshire’s headquarters - Carol Loomis
- We chose our style of operation to fit our natures which demanded that plenty of time be spent thinking and learning while engaging in lifelong self-criticism, light contrition for every error and much humor - Charlie Munger
- The asset I most value, aside from health, is interesting, diverse, and long-standing friends - Warren Buffett