"I believe the chance of any event..." - Quote by Warren Buffett
I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to the unprepared.
More by Warren Buffett
“If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.”
“The truth is, everything that has happened in my life... that I thought was a crushing event at the time, has turned out for the better.”
“I wouldn't want to manufacture cigarettes. But if I owned - we do own Costco. Do they sell them? Yes. So I don't have a problem owning stock in that. But I just wouldn't want to - I wouldn't want to do it myself. I basically think, if anything is sufficiently antisocial, society should do something about it. But that's a separate question. But - and I don't think there's any company that I have seen that's 100 percent pure.”
More on Risk Management
“The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.”
“We're cautious. We'd rather exceed expectations than miss but I think it's going to be a continued difficult economy. Apple is trying a different way to navigate out of this, we're trying to innovate.”
“When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.”
More on Business
“Relationships are leverage. If you give value to someone else first, you have leverage.”
“A manufacturer is not through with his customer when a sale is completed. He has then only started with his customer.”
“The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually by governmental activity.”