"I don't want to give a lecture..." - Quote by Warren Buffett
I don't want to give a lecture to this body that's out there. You know, I mean, having had the heart attack, I want to get it back functioning. And as a practical matter, I mean if you were Bear Stearns, and you were a shareholder, you know, you lost 90 to 95 percent of your money. A good many lost their jobs. They lost very cushy lives, many of them.
More 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.”
“Stop trying to predict the direction of the stock market, the economy or elections.”
“An investor needs to do very few things right as long as he or she avoids big mistakes.”
More on Financial Crisis
“It is precisely those members of Congress who have had the most to do with creating the risks that led to the current economic crisis who are making the most noise against others, and summoning people before their committee to be browbeaten and humiliated on nationwide television.”
“When this crisis began, crucial decisions about what would happen to some of the world's biggest companies - companies employing tens of thousands of people and holding trillions of dollars in assets - took place in hurried discussions in the middle of the night. We should not be forced to choose between allowing a company to fall into a rapid and chaotic dissolution or forcing taxpayers to foot the bill.”
“The egotistical ambition to always want to earn more money harms both the company and the individual himself. That is the biggest weakness of many managers - the financial crisis has proven this.”
More on Consequences
“It means, people who are in high and responsible positions, if they go against righteousness, righteousness itself will get transformed into a destroyer.”
“Even limited military actions end up carrying with them great costs and unintended consequences.”
“We suffer one of two things. Either the pain of discipline or the pain of regret. You've got to choose discipline, versus regret, because discipline weighs ounces and regret weighs tons.”