Author Archive for: ttitz

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

The joy of business lies in the drive to succeed for the sake, not of the fruits of success but of success itself, in the will to conquer, in the impulse to fight for what’s right, and in the thrill of exercising our energy and ingenuity. following Joseph Alois Schumpeter – Austrian economist (1883-1950), Quotations book 2008

Companies should act as if they have owners, because they do, and investors should act like they are owners, because they are. Investor’s slogan – Quotations book 2008

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

Treating people with respect will gain one wide acceptance and improve the business. Tao Zhu Gong – Born Fan Li, Chinese advisor to the emperor of Yue (500 BC), second business principle

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

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

“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

Of all the enemies to public liberty war is, perhaps, the most to be dreaded, because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies and debts and taxes are the known instruments for bringing the many under the domination of […]

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

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 […]

The decision to invest in one place rather than another, in one productive sector rather than another, is always a moral and cultural choice. Pope John Paul II – born Karol Wojtyła, Holy Father 1978-2005 (1920-2005), from “Centesimus Annus” (1991), Quotations book 2003

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 […]

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

A firm’s income statement may be likened to a bikini – what it reveals is interesting, but what it conceals is vital. Burton G. Malkiel – American economist, professor for economy at Princeton University (b. 1932), 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 […]