Wednesday, December 27. 2006
 Some Warren Buffet aphorisms, from Businesspundit:
- You can't make a good deal with a bad person.
- It's easier to stay out of trouble than it is to get out of trouble.
- The market, like the Lord, helps those who help themselves. But unlike the Lord, the market does not forgive those who know not what they do.
- My idea of a group decision is to look in the mirror.
- The reaction of weak management to weak operations is often weak accounting.
- You can always juice sales by going down-market, but it's hard to go back upmarket.
- You have to think for yourself. It always amazes me how high-IQ people mindlessly imitate. I never get good ideas talking to other people.
- In looking for someone to hire, you look for three qualities: integrity, intelligence, and energy. But the most important is integrity because if they don't have that, the other two qualities, intelligence and energy, are going to kill you.
- Never ask a barber if you need a haircut.
- A public-opinion poll is no substitute for thought.
- If you let yourself be undisciplined on the small things, you will probably be undisciplined on the large things as well.
- The fact that people are full of greed, fear, or folly is predictable. The sequence is not predictable.
- We also believe candor benefits us as managers. The CEO who misleads others in public may eventually mislead himself in private.
- What we learn from history is that people don't learn from history.
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