If a company’s capital expenditures are simply maintaining the company’s position in its markets, it free cash flow may be unduly high
The sell side analyst’s target prices do not estimate fair value. DCF estimates do just that. Investors should not confuse the two.
Today’s investor cannot tell what percentage gain in earnings, dividends and prices he may expect in the next ten years
Plan for the worst. Hope for the best. And don’t agonize.
The moral courage to act ‘in opposition to the crowd’ when your judgement tells you are right
The last time I made any specific stock market predictions was in the year 1914, when my firm judged me qualified to write their daily market letter, based on the fact that I had one month’s experience in Wall Street.
The personal qualities necessary for success can be nurtured. In time, the personal qualities will fully develop.
Today the Millennial generation is engaged in earning, saving and investing.
About forty years ago Buffett experienced a Damascene conversion
Economic performance focuses on effective use of the capital invested in the company