Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.
Collective wisdom is about our capacity to recognize interdependence and to make decisions demonstrating that we have a stake in each other, that we can indeed care for each other and the physical planet we share.
Make whatever decision you wish but never forget one thing: all of you are much better than you believed. Take advantage of the chance that tragedy has given you; not everyone is capable of doing so
My decision to destroy the authority of the blacks in Saint Domingue (Haiti) is not so much based on considerations of commerce and money, as on the need to block for ever the march of the blacks in the world.
Many terms which have now dropped out of favour will be revived, and those that are at present respectable, will drop out, if useage so choose with whom resides the decision and the judgment and the code of speech.
You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.
I want the Iraqis to understand that we are with them and that they have to make tough decisions, and we'll help them make those tough decisions for this country, for this democracy to survive. And they've made some tough decisions.
It is obvious that the performance of a stock last year or last month is no reason, per se, to either own it or to not own it now. It is obvious that an inability to "get even" in a security that has declined is of no importance. It is obvious that the inner warm glow that results from having held a winner last year is of no importance in making a decision as to whether it belongs in an optimum portfolio this year.