Now and then I like to post fun and readable quotes from the business world. Warren Buffet never disappoints (submit your own & tell us your favorites).
On Harley-Davidson (NYSE: HOG ) and its customers’ loyalty:
“Any company that gets its customers to tattoo ads on their chests can’t be all bad.”
“Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.”
On quantitative easing: “We really are in uncharted territory. I have a lot of faith in Bernanke — if he’s taking a risk, he’s taking a risk in an area he knows.”
Again on quantitative easing: “My guess is that the Fed wishes it had done some more to be inflationary … the easiest way to run up nominal GDP is to inflate.”
On what makes ISCAR great: “[They] never stop improving the product, never stop trying to make customers happy.”
“A 16-year-old will have more accidents than me, not because I’m a better driver, but because the 16-year-old is driving a lot more and is trying to impress the girl sitting next to him. That doesn’t work for me anymore.”
“The Canadian banking system is very strong, but compared to Europe, and compared to our banks of 20 years ago, [U.S. banks are currently] very strong.”
On challenges to the U.S.: “Our system works, but if you ask me the No. 1 problem, it’s that health care cost.”
“There some parts of the game that we don’t understand, so we don’t play with them.”
“When people get fearful, they get fearful en masse. Confidence comes back one at a time. When they get greedy, they get greedy en masse.”
and my very favorite;
“There is no perfect mathematical formula for pricing a business.” In my own experience, people tend to fixate on a number that they will find a way to justify, however irrational.
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