“We understand the great arc of human history bends towards people coming together in ever greater numbers — from tribes to cities to nations — to achieve things we couldn’t on our own.” Mark Zuckerberg
“Mark Zuckerberg went from selling the idea that Facebook would lead to a flourishing of human friendship to, now, selling the notion that Meta will provide you with AI friends to replace the human pals you have lost in our alienated social-media age.” Mark Zuckerberg
“You're dealing with a lot of silly people in the marketplace'''; it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be O.K.” Warren Buffett
“I'll tell you why I like the cigarette business. ... It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty.” Warren Buffett
“Someone's sitting in the shade today because someone planted a tree a long time ago.” Warren Buffett
“Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.” Warren Buffett
“I like thinking big. I always have. To me it's very simple: if you're going to be thinking anyway, you might as well think big.” Warren Buffett
“Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.” Warren Buffett
“Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.” Warren Buffett
“We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.” Warren Buffett
“Success in investing doesn't correlate with I.Q. once you're above the level of 125. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.” Warren Buffett
“The best thing that happens to us is when a great company gets into temporary trouble... We want to buy them when they're on the operating table.” Warren Buffett
“A very low cost index fund where you don't put in all your money at one time ... If you accumulate a low cost index fund over 10 years ... with fairly regular sums, I think you will probably do better than 90% of the people around you that take up investing at a similar time.” Warren Buffett
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” Warren Buffett
“You couldn't advance in a finance department in this country unless you taught that the world was flat.” Warren Buffett
“The 400 of us pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you're in the luckiest 1 percent of humanity, you owe it to the rest of humanity to think about the other 99 percent.” Warren Buffett
“You want to be greedy when others are fearful. You want to be fearful when others are greedy. It's that simple. ... They're pretty fearful. In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.” Warren Buffett
“I could end the deficit in five minutes. You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.” Warren Buffett
“Can you really explain to a fish what it's like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value.” Warren Buffett
“Our performance, relatively, is likely to be better in a bear market than in a bull market ... in a year when the general market had a substantial advance, I would be well satisfied to match the advance of the averages.” Warren Buffett
“Management's objective is to achieve a return on capital over the long term which averages somewhat higher than that of American industry generally — while utilizing sound accounting and debt policies.” Warren Buffett
“An irresistible footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities — at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.” Warren Buffett
“It's simply to say that managers and investors alike must understand that accounting numbers is the beginning, not the end, of business valuation.” Warren Buffett
“Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.” Warren Buffett
“We will reject interesting opportunities rather than over-leverage our balance sheet.” Warren Buffett
“Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.” Warren Buffett
“The first $100,000 is a bitch, but you gotta do it. I don’t care what you have to do — if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.” Charlie Munger
“The hard part of the process for most people is the first $100,000. If you have a standing start at zero, getting together $100,000 is a long struggle for most people.” Charlie Munger
“... I regard it as a cinch that a great nation will in due time be Rome. ... Where is Rome? Where is Britain in its heyday? They all pass and so our turn is bound to come some day.” Charlie Munger
“What I would say is the single most important thing, if you want to avoid all the stupid errors, is knowing where you're competent and where you aren't. And that's very hard to do because the human mind naturally tries to make you think you're way smarter than you are.” Charlie Munger
“This is a political book... It has a political purpose: to strengthen the will to maintain freedom against the threat of its abandonment in favor of totalitarianism.” Peter Drucker
“With Christianity, freedom and equality became the two basic concepts of Europe; they are themselves Europe.” Peter Drucker
“[T]he Western European democracies... will be forced into totalitarianism unless they produce a noneconomic society striving for the freedom and equality of the individual.” Peter Drucker
“No society can function as a society, unless it gives the individual member social status and function, and unless the decisive social power is legitimate.” Peter Drucker
“In the modern corporation the decisive power, that of the managers, is derived from no one but the managers themselves controlled by nobody and nothing and responsible to no one. It is in the most literal sense unfounded, unjustified, uncontrolled and irresponsible power.” Peter Drucker
“Unless the power of the corporation can be organized on an accepted principle of legitimacy, it will... be taken over by a Central government...” Peter Drucker
“We have only one alternative: either to build a functioning industrial society or see freedom itself disappear in anarchy and tyranny.” Peter Drucker
“[T]he basic decisions are... about aims... what is desirable... the greater good or the lesser evil in the case of conflicting aims... what sacrifice we are willing to make for a certain achievement, and at what point the sacrifice outweighs the advantages.” Peter Drucker
“There can be no freedom if one man or one group of men... is assumed... inherently perfect or perfectible. Its claim to perfection or perfectibility is a claim to absolute rule.” Peter Drucker