Warren Buffett Quotes

The fundamental basis of above-average performance in the long run is sustainable competitive advantage.

My goal is not to fail fast. My goal is to succeed over the long run. They are not the same thing.

Good decisions can have bad short-term outcomes but be great for the business long-term.

Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.

Business, more than any other occupation, is a continual dealing with the future; it is a continual calculation, an instinctive exercise in foresight.

This is a business. Be smart. Choose wisely.

The successful man is the one who finds out what is the matter with his business before his competitors do.

It's important to have a really clear strategy so when you are in business, you only have to make micro-strategy changes.

Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.

When you manage your company for long-term shareholders, and you manage the company for clients, two of the biggest stakeholders, you will make the right decisions.

Business is the systematic playing of games.

If you put on your business hat, you can't maintain competitiveness by staying at a competitive disadvantage. I mean, you just can't. The odds are just not in your favor.

I've said it for four decades - work 'on' your business, not just 'in' your business!

Just like football, business is a game of inches, where the smallest advancement or advantage can mean the difference between winning and losing.

Long-term sustaining growth is a minimum expectation for us.

Business is all about learning to balance the short-term, medium-term and long-term and I think it's when things are going well it covers up a lot of mistakes and bad decisions because you're growing so quickly.

Anyone who has actually had to take responsibility for consequences by running any kind of enterprise whether economic or academic, or even just managing a sports team is likely at some point to be chastened by either the setbacks brought on by his own mistakes or by seeing his successes followed by negative consequences that he never anticipated.

In strategic decisions, I'd be really concerned about overconfidence.

Synergy is the driver. There are two levels of synergy: there are operating synergies, which, you know, you'd have to be stupid not to try to take advantage of, and then there are strategic synergies. In other words, in what positions you would be more sustainable, more long term, and so on.

It's the business that you guys are in too. We try to get as much information as we can and make the best decisions that we can for the football team.

Scale will get you strategy.

You have a certain set of facts and you are looking for situations where you have an edge, whether the edge is psychological or statistical.

Delegation requires the willingness to pay for short term failures in order to gain long term competency.

Managers tend to pick a strategy that is the least likely to fail, rather then to pick a strategy that is most efficient," Said Palmer. " The pain of looking bad is worse than the gain of making the best move.

The two most fundamental strategic choices are deciding where to play and how to win.