Tag Archives: Warren Buffett

In total, our entire string of operating companies spent $8.2 billion for property, plant and equipment in 2011, smashing our previous record by more than $2 billion. About 95% of these outlays were made in the U.S., a fact that … Continue reading

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From all business, my favorite case on incentives is Federal Express. The heart and soul of their system – which creates the integrity of the product – is having all their airplanes come to one place in the middle of … Continue reading

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CAPM assumes a positive correlation between risk and reward. The exact opposite is true with value investing. If you buy a dollar bill for 60 cents, it’s riskier than if you buy a dollar bill for 40 cents, but the … Continue reading

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When the price of a stock can be … set at the margin by the most emotional person, or the greediest person, or the most depressed person, it is hard to argue that the market prices rationally. Warren Buffett

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EGO

Tim Ferris: What’s being taught in current MBA programs that shouldn’t be? Warren Buffett: Option pricing, etc. There are only three courses you need: (1) how to value a business, (2) how to think about market fluctuations, and (3) how … Continue reading

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