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Book: Buffett: The Making of an American Capitalist
Quotes of Book: Buffett: The Making of an
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  1. Roger Lowenstein _ Buffett: The Making of an

    His talent sprang from his unrivaled independence of mind and ability to focus on his work and shut out the world, yet those same qualities exacted a toll.
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  2. Roger Lowenstein _ Buffett: The Making of an

    Bundy sternly tool his fellow endowment fund managers to task - not for being too bold, but for being insufficiently so:We have the preliminary impression that over the long run caution has cost our colleges and universities much more than imprudence or excessive risk-taking.
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  3. Roger Lowenstein _ Buffett: The Making of an

    Being right on a stock had something of the purity of a perfect move in chess; it had an intellectual resonance.
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  4. Roger Lowenstein _ Buffett: The Making of an

    The public shareholders who invested with Buffett also got rich, and in exactly the same proportion to their capital that Buffett did. The numbers themselves are almost inconceivable. If one had invested $10,000 when Buffett began his career, working out of his study in Omaha in 1956, and had stuck with him throughout, one would have had an investment at the end of 1995 worth $125 million.2
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  5. Roger Lowenstein _ Buffett: The Making of an

    Graham's first goal was never to make money-it was to avoid losing any.
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  6. Roger Lowenstein _ Buffett: The Making of an

    Buffett's genius was largely a genius of character-of patience, discipline, and rationality.
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  7. Roger Lowenstein _ Buffett: The Making of an

    The great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude.
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  8. Roger Lowenstein _ Buffett: The Making of an

    Buffett's uncommon urge to chronicle made him a unique character in American life, not only a great capitalist but the Great Explainer of American capitalism. He taught a generation how to think about business, and he showed that securities were not just tokens like the Monopoly flatiron, and that investing need not be a game of chance. It was also a logical, commonsensical enterprise, like the tangible businesses beneath. He stripped Wall Street of its mystery and rejoined it to Main Street -- a mythical or disappearing place, perhaps, but one that is comprehensible to the ordinary American.
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  9. Roger Lowenstein _ Buffett: The Making of an

    Buffett does enjoy being a billionaire, but in offbeat ways. As he put it, though money cannot change your health or how many people love you, it lets you be in 'more interesting environments.
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  10. Roger Lowenstein _ Buffett: The Making of an

    Buffett's methodology was straightforward, and in that sense 'simple.' It was not simple in the sense of being easy to execute. Valuing companies such as Coca-Cola took a wisdom forged by years of experience; even then, there was a highly subjective element. A Berkshire stockholder once complained that there were no more franchises like Coca-Cola left. Munger tartly rebuked him. 'Why should it be easy to do something that, if done well two or three times, will make your family rich for life?
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  11. Roger Lowenstein _ Buffett: The Making of an

    The modern spirit is a hesitant one. Spontaneity has given way to cautious legalisms, and the age of heroes has been superseded by a cult of specialization. We have no more giants; only obedient ants.
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  12. Roger Lowenstein _ Buffett: The Making of an

    Buffett found it 'extraordinary' that academics studied such things. They studied what was measurable, rather than what was meaningful. 'As a friend {Charlie Munger} said, to a man with a hammer, everything looks like a nail."
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