Target launch date for Falcon I maiden flight is Halloween(October 31) from our island launch complex in the Kwajalein Atoll. For potential customers out there, I should mention that Kwajalein has some of the worlds best scuba diving and snorkeling! It is literally a tropical paradise.
It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a mispriced bet - that they can occasionally find one. And the wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time they don't. It's just that simple.
A lot of people with high IQs are terrible investors because they've got terrible temperaments. And that is why we say that having a certain kind of temperament is more important than brains. You need to keep raw irrational emotion under control. You need patience and discipline and an ability to take losses and adversity without going crazy. You need an ability to not be driven crazy by extreme success
A lot of people think if you just had more process and more compliance -- checks and doublechecks and so forth -- you could create a better result in the world. Well, Berkshire has had practically no process. We had hardly any internal auditing until they forced it on us. We just try to operate in a seamless web of deserved trust and be careful whom we trust.
Go to bed smarter than when you woke up.
The big money is not in the buying and selling ... but in the waiting.
Any year that you don't destroy one of your best-loved ideas is probably a wasted year
Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.
Step by step you get ahead, but rarely in fast spurts.
Life is pretty simple: You do some stuff. Most fails. Some works. You do more of what works.
or simply:
