-Dwight D. Eisenhower
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- “The essence of nostalgia is an awareness that what has been will never be again.”
- “Mediocristan is where we must endure the tyranny of the collective, the routine, the obvious, and the predicted; Extremistan is where we are subjected to the tyranny of the singular, the accidental, the unseen, and unpredicted. As hard as you try, you will never lose a lot of weight in a single day…If you are subject to Extremistan-based speculation, however, you can gain or lose your entire fortune in a single minute.”
- “Positive thinking is a good bet—if it doesn’t work you lose nothing; if it does you change your life.”
- “It’s simple—if you don’t work you don’t eat; if you don’t eat you die. To live you either work or someone somewhere is working on your behalf.”
- “…Berkshire’s ownership may make even the best of managers more effective. First, we eliminate all of the ritualistic and nonproductive activities that normally go with the job of CEO. Our managers are totally in charge of their personal schedules. Second, we give each a simple mission: Just run your business as if: 1) you own 100% of it; 2) it is the only asset in the world that you and your family have or will ever have; and 3) you can’t sell or merge it for at least a century. As a corollary, we tell them they should not let any of their decisions be affected even slightly by accounting considerations. We want our managers to think about what counts, not how it will be counted.”