Warren Buffett Quotes

If WikiLeaks were a for-profit company, determining its real value would be a nearly impossible task.

Of all the big Internet companies, Yahoo is the most highly valued on a price-earnings and price-sales basis.

When it comes to valuation, there's only one thing stock investors really care about, which is earnings.

Approaches to determining stock values vary, but fundamentally, each company judging itself undervalued is saying that its future stream of earnings justifies a higher price than the stock market is willing to accord it.

You must value the business in order to value the stock.

My guess is that Apple won't just pass Microsoft in market capitalization, but will go way beyond it.

To know whether stocks are cheap or pricey, we typically look at price-to-earnings ratio. Valuation is a tougher question than many folks realize.

The stock prices of networking equipment companies like Cisco Systems and Nortel Networks sometimes seem as if they are priced for perpetual success.

At our peak, no one knew how to value Digg.

Though it is very easy to do valuations, eyeballs and brand prominence surveys, you should never allow any of them to influence the balance sheet.

Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.

I myself saw Yahoo become a $100 billion company and then become a $10 billion company, so you always have to look at valuations with a grain of salt and understand it is a point-in-time measure.

The question for Dropbox is whether, when they run out of private sources for funding, they will be able to maintain that valuation when they go to public sources for funding and their valuation is set on the public markets.

Too many entrepreneurs think their valuation is the real economic price of their company. It's not. It's not a real economic price unless you are selling 100%.

A great company is not a great investment if you pay too much for the stock.

The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.

An investor calculates what a stock is worth, based on the value of its businesses.

If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.

All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.

I found an approach to investing that made enormous sense to me: rigorously analyzing a company's fundamentals, understanding exactly how it makes money, developing a view on the business's future prospects, and deciding if it's a good business.

Even if you're a relatively small player in search, that can still mean a company that's worth several billion dollars.

When Bill Morgan and I formed Kinder Morgan in February of 1997, it had about $300 million in enterprise value.

When we took Netscape public, if people wanted to invest in the web, that was the only stock that they could do it by investing in. So Netscape's market value was higher than it probably otherwise would have been if there were lots of other ways to play that theme.

In market valuation, Yahoo is worth about as much Walt Disney and the News Corporation combined.

There is no sense in getting excited by market cap because it is a tool.