"For example: (1) As if governed by Newton's First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Businesspeople from the United StatesPhilanthropists from the United StatesAgnostics from the United StatesPeople from OmahaCompany founders
Original Language: English
Available Languages (1)
Sources
1989 Chairman's Letter
https://en.wikiquote.org/wiki/Warren_Buffett
Revision History
No revisions have been submitted for this quote.
Categories
Warren Buffett
US-amerikanischer Unternehmer
135 quotes on TrueQuotesView all quotes by Warren Buffett →
Related Quotes
"Buffett, one of the richest men in the world and a vocal supporter of higher taxes on the rich, also is making use of…"
"Buffett had invited me to Omaha to discuss tax policy. More specifically, he wanted to know why Washington continued …"
"Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1."
"Boy, if he doesn't give capitalism a good name, who does?"
"Buffett does not believe that it is wise to bequeath great wealth and plans to give most of his money to his charitab…"
"Buffett believes the most important quality for an investor is temperament, not intellect. A successful investor does…"
"There's no question that trade can be an act of war, and I think it's led to bad things like the attitudes it's broug…"
"Chains of habit are too light to be felt until they are too heavy to be broken."
"Buy stock in a business that's so good that an idiot can run it, because sooner or later one will."
"I asked Buffett how many of his fellow billionaires shared his views. He laughed. “I’ll tell you, not very many,” he …"