Prometheus 6

"...All the money guys listen to Warren Buffet,"

(...Hey, P6, I dig him TOO, man!)

He and W. Edwards Deming are among those folks that call to mind for me Richard Pryor's quote:

"...You don't get to be old being a fool!"

Warren Buffett

~ I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.

~ It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

~ Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.

~ Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

~ Only when the tide goes out do you discover who's been swimming naked.

~ Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

~ We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'

~ Wide diversification is only required when investors do not understand what they are doing.

~ You only have to do a very few things right in your life so long as you don't do too many things wrong.

W. Edwards Deming

~ If you can't describe what you are doing as a process, you don't know what you're doing.

~ If you do not know how to ask the right question, you discover nothing.

~ It is not enough to do your best; you must know what to do, and then do your best.

~ It is not necessary to change. Survival is not mandatory.

~ Lack of knowledge... that is the problem.

~ Learning is not compulsory... neither is survival.

~ Rational behavior requires theory. Reactive behavior requires only reflex action.

~ You should not ask questions without knowledge.

~ We are here to make another world.