Financial staying power requires a company to maintain three strengths under all circumstances: (1) a large and reliable stream of earnings; (2) mass… - Warren Buffett

When a person with money meets a person with experience, the one with experience ends up with the money and the one with money leaves with experience.

The free market's the best mechanism ever devised to put resources to their most efficient and productive use. ... The government isn't particularly good at that. But the market isn't so good at making sure that the wealth that's produced is being distributed fairly or wisely. Some of that wealth has to be plowed back into education, so that the next generation has a fair chance, and to maintain our infrastructure, and provide some sort of safety net for those who lose out in a market economy. And it just makes sense that those of us who've benefited most from the market should pay a bigger share. ... When you get rid of the estate tax, you're basically handing over command of the country's resources to people who didn't earn it. It's like choosing the 2020 Olympic team by picking the children of all the winners at the 2000 Games.

Our Graham & Dodd investors... do not discuss beta, the or in returns among securities. ...[M]ost of them would have difficulty defining these terms. The investors simply focus on two variables: price and value.