Author Archive for: ttitz

Does the company have a management of unquestionable integrity? Philip A. Fisher – American Growth-Investor and Mementor for Warren Buffett (1907-2004)

The best investments are on main street, not Wall Street. Robert Miles – American investmentor, author and Warren Buffett expert (b. 1955)

In the modern corporation the decisive power, that of the managers, is derived from no one but the managers themselves controlled by nobody and nothing and responsible to no one. It is in the most literal sense unfounded, unjustified, uncontrolled and irresponsible power. Peter F. Drucker – Austrian-born American Management expert (1909-2005), Quotations book 2007

Taxes are the price that we pay for a civilized society. Oliver Wendell Holmes jr. – American Supreme Court justice (1841-1935), Quotations book 2006

Being an entrepreneur means having a different view of the future. Ludwig von Mises – Austrian economist (1881-1973), Quotations book 2006

“Compared with other institutional investors, ‘families are more adventurous about where they invest their capital,’ says a managing director at one advisory firm whith a large wealthy client base. ‘They’re quicker in their decision-making, and sometimes don’t have hard and fast rules like pension funds do.’” from: The Private Equity Analyst – March 2004, Quotations book 2006

All of the good in the world is not done by foundation donations. Much more good is done via ordinary business operations of the corporations in which they invest. Charlie Munger – Vice Chairman of Berkshire Hathaway (b. 1924), Quotations book 2002

It is precisely the ability to foresee both the needs of others and the combinations of productive factors most adapted to satisfying those needs that constitutes another important source of wealth in modern society. Pope John Paul II – born Karol Wojtyła, 1978-2005 Holy Father (1920-2005), from “Centesimus Annus” (1991), Quotations book 2006

At the bottom of many criticisms of the market economy is really lack of belief in freedom itself. Milton Friedman – American economist, Nobel-Memorial Prize in economic sciences 1976 (1912-2006), Quotations book 2008

As partial owners of a dozen plus companies we are by necessity absentee owners. Consequently, our first and overriding task in evaluating an investment is to determine whether management would work for us. Would they do what an owner with a long-term view would do with their knowledge of the business? Arthur D. Clarke – American […]

Referring to 1913: Even in these earlier times, finding the really outstanding companies and staying with them through all the fluctuations of a gyrating market proved far more profitable to far more people than did the more colorful practice of trying to buy them cheap and sell them dear. Philip A. Fisher – American Growth-Investor and […]

The art of investing in public companies is… simply to acquire, at a sensible price, a business with excellent economics and able, honest management. Thereafter you need only monitor whether these qualities are being preserved. Charlie Munger – Vice-Chairman of Berkshire Hathaway (*1924), Quotations book 2005

By intervening directly and depriving society of its responsibility, the Social Assistance State leads to a loss of human energies and an inordinate increase of public agencies, which are dominated more by bureaucratic ways of thinking than by concern for serving their clients, and which are accompanied by an enormous increase in spending. Pope John […]

The best way to choose a manager – like the best way to choose a son-in-law – is by character or culture. You should only go with a manager who aims to do what you too intend. Never try to change the way a manager manages. Only hire a manager you really expect to stay […]

There is an old adage in investment lore that says, “Buy when blood is in the streets.” Actually, it is sometimes best to wait a while. An investor did not have to buy during the riots in the streets of Watts; a year later was time enough to catch the lowest prices and make a […]

Committees should be small and in odd numbers, preferably below three. Wisdom