A branding program should be designed to differentiate your cow from all the other cattle on the range. Even if all the cattle on the range look pretty much alike.
SUPPOSE that an investor you admire and trust comes to you with an investment idea. This is a good one, he says enthusiastically. I'm in it, and I think you should be, too.
The self-styled practical man of affairs who pooh-poohs philosophy as a lot of windy notions is himself a pragmatist or a positivist, and a bad one at that, since he has given no thought to his position.
Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.
Remember the Three Princes of Serendip who went out looking for treasure? They didn't find what they were looking for, but they kept finding things just as valuable. That's serendipity, and our business [drugs] is full of it.
I do not dislike but I certainly have no especial respect or admiration for and no trust in, the typical big moneyed men of my country. I do not regard them as furnishing sound opinion as respects either foreign or domestic business.
If you want your business to survive for 100 years, you've got to make it through every single day for 100 years. It's not enough to do it 99.9% of the time.
When we do not know a person - and also when we do - we have to judge his size by the size and nature of his achievements, as compared with the achievements of others in his special line of business - there is no other way.
A man should keep his little brain attic stocked with all the furniture that he is likely to use, and the rest he can put away in the lumber-room of his library, where he can get it if he wants it.
There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.