"I’ve worked in an economy that rewards..." - Quote by Warren Buffett
I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
More by Warren Buffett
“Truly conservative actions arise from intelligent hypotheses, correct facts and sound reasoning.”
“The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.”
“That's been lost. It's a huge problem. What you have is you have the major institutions of the world all wanting to deleverage. They want to take down their assets and liabilities. What seemed so easy to borrow against a year ago now looks like rat poison to them. So they're trying to deleverage. There is only one institution in the world that can leverage up in a way that's all a countervailing force to that, and that's the United States Treasury.”
More on Society
“If the battle for civilization comes down to the wimps versus the barbarians, the barbarians are going to win.”
“The big problem in the long process of dumbing down the schools is that you can reach a point of no return. How are parents who never received a decent education themselves to recognize that their children are not getting a decent education?”
“Money is far more persuasive than logical arguments.”
More on Rewards
“If you travel alone, you can probably go faster. But the journey will never be as rewarding, and you probably won't be able to go as far.”
“You have to be un-compromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared. Commitment cannot be compromised by rewards.”
“Most everybody thinks that if I want to get big rewards I need to take huge risks. But if you keep thinking that, you're gonna be broke.”