Management questions
What is our mission Who is our customer What does the customer value What are the results What is our plan
Peter F. Drucker
amerikanischer Management-Denker österreichischer Herkunft (*1909-2005), aus "Die fünf entscheidenden Fragen des Managements"

Civilization
The highest Test of the civilization of any race is in its willingness to extend a helping hand to the less fortunate. A, race like an individual, lifts itself up by lifting others up.
Booker T. Washington
amerikanischer Pädagoge, Sozialreformer und Bürgerrechtler (1856-1915)

Economic Growth
Economic growth not only increases material living standards; it shapes the moral character of people and society.
Benjamin M. Friedman
amerikanischer Ökonom (*1944)

Life
Life consists not in holding good cards but in playing those you hold well.
wird Josh Billings zugesschrieben
amerikanischer Humorist, eigentlich Henry Wheeler Shaw (1818-1885)

Bargains
The best bargains are not stocks whose prices are down most, but rather those stocks having the lowest prices in relation to possible earning power of future years.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008)

Pray
I have been driven many times upon my knees by the overwhelming conviction that I had nowhere else to go. My own wisdom, and that of all about me, seemed insufficient for the day.
wird Abraham Lincoln zugeschrieben
amerikanischer Präsident 1861-65 (1809-1865), schaffte 1863 die Sklaverei ab

Being right
We do not get paid for activity, just for being right.
Warren Buffet
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Look forward
My partner Charlie and I never look back; we have so much to look forward to that it does not make sense to look back.
Warren Buffet
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), gefunden auf youtube: "Warren Buffett MBA Talk

Live your dream
Don't dream your life, live your dream.
unbekannt

Risk
These people risked something they had and needed for something they did not have and did not need.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), zum Scheitern der 100fach gehebelten und von Nobelpreisträgern beratenene Hedge Fonds LTCM (Long Term Capital Management), gefunden auf youtube: "Warren Buffett MBA talk"

Loan
Neither a borrower or lender be, for loan oft(en) loses both itself and friend, and borrowing dulls the edge of husbandry.
William Shakespeare
englischer Schriftsteller (1564-1616), Polonius in "Hamlet", 1. Akt, 3. Szene

Tolerance
You must, therefore, live with your enemies, as you cannot always live with your friends.
Alexis de Tocqueville
französicher Publizist und Politiker (1805-1859), aus einem Brief an Eugène Stoffels, 16.9.1823

Character
Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are.
John Wooden
amerikanischer Basketballspieler und -trainer (1910-2010)

Meaning of life
Love your calling with passion, it is the meaning of your life.
wird Auguste Rodin zugeschrieben
französischer Bildhauer (1840-1917)

Gifts
Talent is God given. Be humble. Fame is man-given. Be grateful. Conceit is self-given. Be careful.
John Wooden
amerikanischer Basketballspieler und -trainer (1910-2010)

Christmas
What is Christmas? It is tenderness for the past, courage for the present, hope for the future. It is a fervent wish that every cup may overflow with blessings rich and eternal, and that every path may lead to peace.
wird Agnes M. Pharo zugeschrieben
amerikanische Autorin (19. Jhd.)

Boldness
The man who goes farthest is generally the one who is willing to do and dare. The sure-thing boat never gets far from shore.
Dale Carnegie
amerikanischer Autor und Persönlichkeitstrainer, eigentlich Dale Carnagey (1888-1955)

Success
My success ties with three words: work, work, work.
Baron Albert Frère
belgischer Financier (*1926), aus einem Interview in “Finanz und Wirtschaft” vom 9.8.2006

Chances
If one door closes, another one opens.
spanisches Sprichwort
von Miguel de Cervantes Y Saavedra zitiert in "Don Quixote"

Keep at it
I have not failed 10,000 times; I've successfully found 10,000 ways that will not work.
Thomas Alva Edison
amerikanischer Erfinder (1847-1931)

Bob Farrell's 10 rules
1. Markets tend to return to the mean over time. 2. Excesses in one direction will lead to an opposite excess in the other direction. 3. There are no new eras - excesses are never permanent. 4. Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways. 5. The public buys the most at the top and the least at the bottom. 6. Fear and greed are stronger than long-term resolve. 7. Markets are strongest when they are broad and weakest when they narrow to a handful of blue chip names. 8. Bear Markets have three stages - sharp down - reflexive rebound - a drawn-out fundamental downtrend. 9. When all the experts and forecasts agree - something else is going to happen. 10. Bull markets are more fun than bear markets.
Bob Farrell
amerikanischer Analyst, Chef-Analyst von Merrill Lynch 1976-1992

Aims
I hope that I may always desire more than I can accomplish.
wird Michelangelo zugeschrieben
ital. Bildhauer, Maler, Baumeister u. Dichter, eigentlich Michelangiolo Buonarroti Simoni (1475-1564)

Imagination
Imagination is more important than knowledge. For knowledge is limited.
Albert Einstein
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955)

Success
The difference between failure and success is doing a thing nearly right and doing a thing exactly right.
wird Edward C. Simmons zugeschrieben
amerikanischer Unternehmer (1839-1920)

Excellence
Every job is a self-portrait of the person who did it. Autograph your work with excellence.
unbekannt

Execute decisions
The real test is not so much making decisions ... as executing them.
Colin Powell
amerikanischer General und Politiker, US-Außenminister 2001-05 (*1937)

Change
Who really wants to change something must show respect - but nevertheless be disrespectful.
James Watson und Francis Crick
amerikanische (Watson, *1928) und britische (Crick, 1916-2004) Molekularbiologen, Entdecker der DNS-Struktur, Nobelpreis für Medizin 1962

Trust
I said to the man who stood at the Gate of the Year, "Give me a light that I may tread safely into the unknown." And he replied, "Go out into the darkness and put your hand into the hand of God. That shall be to you better than a light safer than a known way."
Minnie Louise Haskins
britische Soziologin an der London School of Economics (1875-1957)

Faith is
Faith is to hold on to the fact that the seemingly unanswered prayer of many years is no futile routine, but a means through which God reaches his great eternal objectives - in due course.
Dr. Pamela Reeve
amerikanische Theologin, Multnomah University (*1916)

Aim high
Gentlemen, make no little plans; they have no magic to stir men's blood ... Make big plans ... aim high in hope and work.
Daniel H. Burnham
amerikanischer Stadtplaner für Chicago (1846-1912)

Successful ideas
Ideas that have great results are always simple ones.
Leo N. Tolstoi
russischer Schriftsteller (1828-1910), aus "Krieg und Frieden"

God's Thoughts
I want to know His (God's) thoughts, the rest are details.
Albert Einstein
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955), aus dem Interview "A Talk with Einstein" mit Esther Salaman, 1955

Day of rejoicing
This is the day the Lord has made; let us rejoice and be glad in it.
Psalm 118,24 (LUT) / Psalm 118,24 (NIV)

Dreams
If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.
Henry David Thoreau
amerikanischer Schriftsteller (1817-1862), aus seinem Werk "Walden" veröffentlicht 1854

Success
Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome while trying to succeed.
Booker T. Washington
amerikanischer Pädagoge, Sozialreformer und Bürgerrechtler (1856-1915)

Economic Moat
Look for the durability of the franchise. The most important thing for me is figuring out how big a moat there is around a business. What I love, of course, is a big castle and a big moat with piranhas and crocodiles.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Margin of Safety
You have to have the knowledge to enable you to make a very general estimate about the value of the underlying business. But you do not cut it close. That is what Ben Graham meant by having a margin of safety. You don't try and buy businesses worth $83 million for 80$ million. You leave your self an enormous margin.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Return
We love owning common stocks - if they can be purchased at attractive prices. Unless, however, we see a very high probability of at least 10% pre-tax returns, we will sit on the sidelines.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Quality of Management
We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Return on Equity
The primary test of managerial economic performance is the achievement of high earnings rate on equity capital employed.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Circle of Competence
Draw a circle around the businesses you understand and then eliminate those that fail to qualify on the basis of value, good management, and limited exposure to hard times.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Invest in Businesses
The basic ideas of investing are to look at stocks as businesses, use market fluctuations to your advantage and seek a margin of safety. That's what Ben Graham taught us... A hundred years from now they will still be the cornerstones of investing.
Warren Buffett
amerikanischer Investor, Chairman von Berkshire Hathaway (*1930)

Bend History
Few will have the greatness to bend history, but each of us can work to change a small portion of the events, and then the total -- all of these acts -- will be written in the history of this generation.
Robert Francis "Bobby" Kennedy
amerikanischer Jurist und Senator (1925-1968), aus "Day of Affirmation speech" an der Universität Cape Town, Südafrika im Juni 1966

Lifelong Learning
I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you. Nothing has served me better in my long life than continuous learning.
Charlie Munger
Vice Chairman von Berkshire Hathaway (*1924)

Entrepreneurs
Entrepreneurs recognize and pursue opportunity without regard to the resources they currently control. They find creative ways to acquire the resources to achieve their goals.
Robert Reiss
amerikanischer Moderator, Gründer der Radio-Sendung "The CEO-Show" (`1961)

Success
The secret of success is constancy to purpose.
Benjamin Disraeli
englischer Schriftsteller und Premierminister 1868 und 1874-80 (1804-1881), aus einer Rede bei einem Bankett der National Union of Conservative and Constitutional Associations am 24.6.1872

Test
Test everything. Hold on to the good.
Paulus in 1. Thessalonnicher 5:21 (HFA) / Paul in 1. Thessalonians 5,21 (NIV)

Root of all Evil
I have found the root of all the trouble to be the neglect of prayer. The first renewal in the society must begin with prayer.
Mutter Teresa
indische Ordensgründerin albanischer Herkunft, Friedesnobelpreisträgerin 1979 (1910-1997)

Give
To give away money is an easy matter, and in any man's power. But to decide to whom to give it, and how large and when, and for what purpose and how, is neither in every man's power, nor an easy matter. Hence it is that such excellence is rare, praiseworthy, and noble.
Aristoteles
griechischer Philosoph (384-322 vor Christus), in "Nicomantische Ethik"

Cut-throat competition
It is hard to make money where others are prepared to loose it.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Virtues
Hard work, honesty, if you keep at it, will get you almost anything.
Charlie Munger
Vice Chairman Berkshire Hathaway, Milliardär (*1924)

Bible
It ain't those parts of the bible that I can't understand that bother me, it is the parts that I do understand.
wird Mark Twain zugeschrieben
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910)

Don't give up
Our greatest weakness lies in giving up. The most certain way to succeed is to try just one more time.
Thomas Alva Edison
amerikanischer Erfinder (1847-1931)

Intervene
This time the men of western Europe have not lacked courage and have not acted too late. They have done something great and what is remarkable and perhaps unique is that they have done it by renouncing means of force, any constraint, any threat.
Paul-Henry Spaak
belgischer Politiker, Nato-Generalsekretär 1956-61 (1899-1972), anläßlich der Unterzeichnung der Römischen Verträge 1957, gesehen an der Büste von Paul-Henry Spaak vor dem Brüsseler Bahnhof

God's gift
What you are is God's gift to you. What you make of yourself is your gift to God.
Sprichwort

Depression
This is a nightmare, which will pass away with the morning. For the resources of nature and men’s devices are just as fertile and productive as they were. The rate of our progress towards solving the material problems of life is not less rapid. We are as capable as before of affording for everyone a high standard of life—high, I mean, compared with, say, twenty years ago—and will soon learn to afford a standard higher still. We were not previously deceived. But today we have involved ourselves in a colossal muddle, having blundered in the control of a delicate machine, the working of which we do not understand. The result is that our possibilities of wealth may run to waste for a time—perhaps for a long time.
John Maynard Keynes
britischer Nationalökonom (1883-1946), aus "The Great Slump of 1930"

Start walking
Don't wait for the light at the end of the tunnel. Stride down there... and light the thing yourself.
wird Sara Hamilton zugeschrieben
australische Viehzüchterin und Autorin (1936-2005)

Wall Street
Wall Street hasn't really changed all that much. It still operates on the principle of taking care of itself first, really big and important customers second, everyone else last.
Allan Sloan
amerikanischer Journalist (*1944), in "Lessons of the crash of '08", Fortune Magazine, 28.9.2009

Lies
A lie will fly around the whole world while the truth is getting its boots on.
wird Mark Twain zugeschrieben
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910)

Growth
Every now and then a man's mind is stretched by a new idea or sensation, and never shrinks back to its former dimensions.
Oliver Wendell Holmes, sr.
amerikanischer Arzt und Schriftsteller (1809-1894), aus "The Autocrat of the Breakfast Table", Kapitel 11

Atmosphere
You can't have a great place to shop without first making it a great place to work.
Stew Leonard, Sr.
amerikanischer Unternehmer, Gründer der Stew Leonard's Supermärkte (*1929)

Responsibility
The romans built strong bridges because their architects had to stand under them as the army corssed them for the first time.
Prem Watsa
american investor (*1950), in einem Interview mit der "Financial Post", 1.12.2009

Do not let your hearts be troubled. Believe in God, believe also in me.
Johannes 14,1 (LUT) / John 14,1 (NRSV)
Zitateheft 2010

Disciplin
We don't have to be smarter than the rest. We have to be more disciplined than the rest.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Without love
Duty without Love creates annoyance. Truth without Love creates addiction to criticism. Education without Love creates contradiction. Cleverness without Love turns cagey. Responsibility without Love turns inconsiderate. Justice without Love creates hardness. Politeness without Love creates hypocrisy. Order without Love creates pettiness. Knowledge without Love turns obstinate. Power without Love turns violent. Honour without Love creates pride. Possession without Love turns avaricious. Believe without Love turns fanatic.
wird Lao-Tse zugeschrieben
chinesischer Philosoph (ca. 3.-5. Jahrh. vor Chr.)

Wealth
Wealth consists not in having great possessions, but in having few wants.
Epikur von Samos
griechischer Philosoph (341-270 vor Christus), Zitateheft 2007

Result
However beautiful the strategy, you should occasionally look at the results.
unbekannt
wird oft Winston Churchill zugeschrieben, kann aber in seinen Schriften nicht nachgewiesen werden.

Sell
One can sell anything, if it is in fashion. The problem is making it fashionable in the first place.
Ernest Dichter
amerikanischer Sozialforscher, Pionier der Marktpsychologie (1907-1991)

Hope
Hope is a waking dream.
wird Aristoteles zugeschrieben
griechischer Philosoph (384-322 vor Christus), wird in Diogenes Laertios' "Leben und Lehre der Philosophen" Aristoteles zugeschrieben

Obsession
Our prototype for occupational fervor is the Catholic tailor who used his small savings of many years to finance a pilgrimage to the Vatican. When he returned, his parish held a special meeting to get his firsthand account of the Pope. "Tell us," said the eager faithful, "just what sort of fellow is he?" Our hero wasted no words. "He's a forty-four medium."
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), aus "Warren Buffett's Management Secrets"

Charity
Each one should use whatever gift he has received to serve others, faithfully administering God's grace in its various forms.
1. Petrus 4,10 (LUT) / 1. Peter 4,1 (NIV)

Doctors
The best doctors in the world are Dr. Diet, Dr. Quiet and Dr. Merryman.
Jonathan Swift
englisch-irischer Schriftsteller (1667-1745), aus "Polite Conversation"

Arouse enthusiasm
I consider my ability to arouse enthusiasm to be my greatest asset, and the way to develop the best that is in a person is by appreciation and encouragement. There is nothing that kills the ambitions of a person as much as criticisms from superiors. I never criticize anyone. I believe in giving people incentive to work. So I am anxious to praise but loath to find fault. If I like anything, I am hearty in my appreciation an hearty in my praise.
wird Charles Schwab zugeschrieben
amerikanischer Industrieller und Stahlmagnat (1862-1939)

Hiring
When you hire people who love what they do, they make you look like a genious.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Job Interview
Would you rather be the world's greatest lover and have everyone think that you are the world's worst lover? Or would you rather be the world's worst lover and have everyone think that you are the world's best lover?
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), aus "Warren Buffett's Management Secrets"

Synergy
There's really a lot of overlap between managing and investing. Being a manager has made me a better investor, and being an investor has made me a better manager.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), aus "Warren Buffett's Managment Secrets"

Philosopher's Stone
If you know how to spend less than you get, you have the philosopher's stone.
Benjamin Franklin
amerikanischer Politiker, Schriftsteller und Naturwissenschaftler (1706-1790), aus "Poor Richard's Almanac" 1736

Lack of motivation
You don't want to be in business with people who need a contract to be motivated to perform.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), aus "Warren Buffett's Management Secrets"

Gratitude
An attitude of gratitude creates blessings.
wird Sir John Templeton zugeschrieben
Value-Investor und Philanthrop (1912-2008)

Standard of knowledge
If we become increasingly humble about how little we know, we may be more eager to search.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008)

Invest
Invest at the point of maximum pessimism.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008), Zitateheft 2005

Expensive words
The five most expensive words in investing are, this time it is different.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008)

Best investment
The best investment with the least risk and the greatest dividend is giving.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008)

Americas true greatness
It was not until I went into the churches of America, and I heard her pulpits aflame with righteousness did I understand the secret of her genious and power.
wird Alexis de Tocqueville zugeschrieben
französicher Publizist und Politiker (1805-1859), Zitateheft 2007

Wonderful company
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2006

History
If history books were the key to riches, the Forbes 400 would consist of librarians.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitatebuch 2002

Investment opportunities
Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930)

Countercyclical
I will tell you how to become rich. Be fearful when others are greedy. Be greedy when others are fearful.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2007

Fun
We enjoy the process far more than the proceeds.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930)

Thought
A public-opinion poll is no substitute for thought.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930), Zitateheft 2007

Honesty
If you tell the truth, you don’t have to remember your lies.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930), Zitateheft 2007

Bequeath
A very rich person should leave his kids enough to do anything, but not enough to do nothing.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2007

Good business
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Purchasing patterns
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930), Zitateheft 2008

Bad press
Lemmings may have a rotten image, but no individual Lemming has ever received bad press.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930) in seinem Letter to Berkshire Shareholders 1984, Zitateheft 2008

Business cycles
Every business cycle has three phases. In the first, innovators get rich. In the second, imitators get rich. In the third, idiots get rich - and then lose it.
wird Warren Buffett zugeschrieben
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Synergy
Synergy: A term widely used in business to explain an acquisition that otherwise makes no sense.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), aus: Essays von Warren Buffet, Seite 65, in Brief an Aktionäre 1985

Circle of Competence
Answer to the question why Warren Buffett is better than investors with a higher IQ: We know better what we know and what we do not know.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Comprehensible accounting
If I can't understand the accounting, they don't want me to.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Earnings
Earnings can be pliable as putty when a charlatan heads the company reporting them.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2005

Qualities of managers
Three qualities of managers - integrity, intelligence and energy. If you don't have the first one the last two will kill you.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Contrarian
Be fearful when the world is greedy and be greedy when the world is fearful.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2004

Broker not partner
If you think you can dance in and out of stocks I want to be your broker not your partner.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Successful stock
If a business does well, the stock eventually follows.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930)

Boardroom atmosphere
Too often boardroom atmosphere means that collegiality trumps independence.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2005

Reputation
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930)

Simplicity
The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930)

Market fluctuations
Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930)

Working for money
Taking a job for money is like marrying for money, which is especially dumb if you are already rich.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2006

Reputation
When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Heathaway (*1930)

Mediocrity
Time is the friend of the wonderful business, the enemy of the mediocre.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitatebuch 2003

Sitting in the shade
Someone's sitting in the shade today because someone planted a tree a long time ago.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitatebuch 2002

Price and value
Price is what you pay. Value is what you get.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Arbitrage
Give a man a fish and you feed him for a day. Teach him how to arbitrage and you feed him forever.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Risk
Risk comes from not knowing what you're doing.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitatebuch 2002

Sound investing
(Benjamin Graham) wasn’t about brilliant investments and he wasn’t about fads or fashion. He was about sound investing and I think sound investing can make you very wealthy if you’re not in too big of a hurry. And it never makes you poor, which is better.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Independence
You can't do right in investments unless you think independently. And the truth is, you're neither right nor wrong because people agree with you. You're right because your facts and your reasoning are right.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2004

Money and character
Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Opportunities
You do things when the opportunities get along. I've had periods in my life when I've had a bundle of Ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Wall Street
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2007

Sympathy
"Our record of persuading decent, intelligent people to stop doing dumb things is very poor. (Munger added, "Worse than poor.") When people want to do something, they do it. When someone rises to be CEO, he doesn't want to hear a shareholder telling him that his latest idea is dumb. It's better to be in a business with management you're simpatico with than in a great business in which this isn't the case. We've learned more about human nature than understanding businesses in our long-term experience."
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), auf der Hauptversammlung 2001, Zitatebuch 2002

Endurance
What should you be doing in running your business? Just what you always do: Widen the moat, build enduring competitive advantage, delight your customers, and relentlessly fight costs.
Warren Buffett über widrige Zeiten im Geschäft
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitatebuch 2003

Bad business
After some other mistakes, I learned to go into business only with people whom I like, trust, and admire. We've never succeeded in making a good deal with a bad person.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitatebuch 2002 + 2006

Easy things
I have seen no trend towards value investing in the 35 years that I've practiced it. There seems to be some perverse human characteristic that likes to make easy things difficult.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Investments
The art of investing in public companies successfully is little different from the art of successfully acquiring subsidiaries. In each case you simply want to acquire, at a sensible price, a business with excellent economics and able, honest management. Thereafter, you need only monitor whether these qualities are being preserved.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Beta-Risk
If someone starts talking to you about beta, zip your pocketbook ... there are two kinds of risk: 1) The risk that you could get a better return on your money elsewhere (opportunity cost) and 2) the risk of permanent capital impairment (financial health).
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Stock-ideas
First, you need two piles. You have to segregate businesses you can understand and reasonably predict from those you don’t understand and can’t reasonably predict. An example is chewing gum versus software. You also have to recognize what you can and can not know. Put everything you can’t understand or that is difficult to predict in one pile. That is the too hard pile. Once you know the other pile, then its important to read a lot, learn about the industries, get background information, etc. on the companies in those piles. Read a lot of 10Ks and Qs, etc. Read about the competitors. I don’t want to know the price of the stock prior to my analysis. I want to do the work and estimate a value for the stock and then compare that to the current offering price. If I know the price in advance it may influence my analysis.
nach Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930)

Lifelong investing
To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insight, or inside information. What's needed is a sound intellectual framework for decisions and the ability to keep emotions from corroding that framework.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2005

Learning
It is impossible to open a book without learning something.
Lebensweisheit aus China

Optimism
Turn your face towards the sun and the shadows will fall behind you.
aus Tansania

Do Good
Do all the good you can, by all the means you can, in all the ways you can, in all the places you can, to all the people you can, as long as ever you can.
wird John Wesley zugeschrieben
englischer Prediger (*1703-1791), bekannt als "John Wesley's Rule"

Community
Christians, like snowflakes, are fail, but when they stick together they can stop traffic.
Dr. Vance Havner
amerikanische Pastor und Autor (*1901-1986)

Endurance
When everything seems to be going against you, remember that the airplaine takes off against the wind, not with it
Henry Ford
amerikanischer Ingenieur und Unternehmer (1863-1947)

Live!
Live your life, as if you are gonna die.
wird William Shatner zugeschrieben
kanadischer Schauspieler (*1931)

Listen
Most of the successful people I’ve known are the ones who do more listening than talking.
Bernard Baruch
US-Amerikanischer Finanzier und Börsenspekulant (1870-1965), Zitateheft 2010

Wealth needs patience
Dishonest money dwindles away, but he who gathers money little by little makes it grow.
Sprüche 13,11 (GNB) / Proverbs 13,11 (NIV)
Zitateheft 2010

Forgive
One of the secrets of a long and fruitful life is to forgive everybody everything every night before you go to bed.
wird Bernard Baruch zugeschrieben
amerikanischer Finanzier (1870-1965), Zitateheft 2010

Simplify
Making the simple complicated is commonplace; making the complicated simple, awesomely simple, that's creativity.
wird Charles Mingus zugeschrieben
amerikanischer Jazz-Musiker und -Komponist (1922-1979), Zitateheft 2010

Risk-taking
If you sleep on the floor you are not afraid of falling out of the bed.
unbekannt
Zitateheft 2010

Consintent
Experience is not enough in itself - it has to be weighed, ordered and digested, and we have to draw the right conclusions from it.
Michel de Montaigne
französischer Schriftsteller und Philosoph (1533-1592), Zitateheft 2010

Church
The church is a hospital for sinners, not a museum for saints.
wird Abigail van Buren zugeschrieben
amerikanische Lebensberaterin, eigentlich Pauline Phillips (*1918), Zitateheft 2010

A candle loses nothing by lighting another candle.
Sprichwort
Zitateheft 2010

Buy and sell
To buy when others are despondently selling and to sell when others are greedily buying requires the greatest fortitude and pays the greatest ultimate reward.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008), Zitateheft 2010

Fear of God
The fear of God is a fountain of life, turning a man from the snares of death.
Sprüche 14,27 (GNB) / Proverbs 14,27 (NIV)
Zitateheft 2010

Faith
Faith is a kind of winged intellect. The great workmen of history have been men who believed like giants.
wird Charles Henry Parkhurst zugeschrieben
amerikanischer Pfarrer (1842-1933), Zitateheft 2010

Greed
A greedy man brings trouble to his family, but he who hates bribes will live.
Sprüche 15,27 (GNB) / Proverbs 15,27 (NIV)
Zitateheft 2010

Past
Those who cannot remember the past are condemned to repeat it.
George Santayana
spanischer Philosoph (1863-1952), eigentlich Jorge Augustín Nicolás Ruiz de Santayana, aus "Reason in Common Sense", dem ersten Band von "The Life of Reason", Zitateheft 2010

Money
It's never too early to teach your children about the tool of money. Teach them how to work for it and they learn pride and self-respect. Teach them how to save it and they learn security and self-worth. Teach them how to be generous with it and they learn love.
wird Judith Jamison zugeschrieben
amerikanische Tänzerin und Choreographin (*1943), Zitateheft 2010

Give
Give naught, get same. Give much, get same.
wird Malcolm Forbes zugeschrieben
amerikanischer Verleger, Forbes Magazine (1919-1990), Zitateheft 2010

Happiness and grief
A happy heart makes the face cheerful, but heartache crushes the spirit.
Sprüche 15,13 (GNB) / Proverbs 15,13 (NIV)
Zitateheft 2010

Faithraising instead of fundraising
Saddleback doesn't do fundraising. For us, it's all about faithraising. Why? Because we believe GOD is primarily interested in growing our faith, not getting our money. We also believe that if the first happens, the second will naturally occur.
Forrest Reinhard
Pastor der Saddleback Community Church, Lake Forest, Kalifornien (*1958), Zitateheft 2010

Experience
Ask for the ancient paths, ask where the good way is, and walk in it, and you will find rest for your souls.
Jeremia 6,16 (LUT) / Jeremiah 6,16 (NIV)
Zitateheft 2010

Attitude toward money
If a person gets his attitude toward money straight, it will help straighten out almost every other area in his life.
wird Billy Graham zugeschrieben
amerikanischer Prediger, eigentlich William Franklin Graham jr. (*1918), Zitateheft 2010

Simplicity
Keep things simple and take them seriously - simplicity is the end result of long hard work, not the starting point.
unbekannt
Zitateheft 2010

Live simply
We should travel light and live simply. Our enemy is not possessions but excess.
Dr. John W. Stott
britischer Pastor und Autor (*1921), Zitateheft 2010

Property
Property is the fruit of labor - property is desirable - it is a positive good in the world. That some should be rich, shows that others may become rich, and hence is just encouragement to industry and enterprise.
Abraham Lincoln
amerikanischer Präsident 1861-65 (1809-1865), aus einer Rede vor der New York Workingmen's Democratic Republican Association, nachdem diese ihn zum Ehrenpräsidenten ernannte (21. März 1864), Zitateheft 2010

Opportunities
Opportunities are like sunrises. If you wait too long, you miss them.
William Arthur Ward
amerikanischer Schriftsteller (1921-1994), Zitateheft 2010

Age
The older the fiddler, the sweeter the tune.
englisches Sprichwort
Zitateheft 2010

Cosmopolitanism
Common sense tells you that you will find more and sometimes better investment opportunities if you search everywhere in the world.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008), Zitateheft 2010

Vision and Success
Every vision begins with a mental journey; each success begins with making it reality.
unbekannt
Zitateheft 2010

Price and Value
Share prices fluctuate more than share values.
Sir John Templeton
Value-Investor und Philanthrop (1912-2008), Zitateheft 2010

Journalists
The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves and the better the teacher, the better the student body.
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2010

Profit und Cash
Net profit is an opinion. Cash is a fact.
Whitney R. Tilson
amerikanischer Hedge-Fonds-Manager (*1966), Zitateheft 2010

Work
The higher the pay in enjoyment the worker gets out of it, the higher shall be his pay in cash, also.
Mark Twain
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910), aus "A Connecticut Yankee in King Arthur`s Court" Kap. XXVIII

Speculation
Speculation...is neither illegal, immortal nor un-American. But is not a game in which Charlie and I wish to play. We bring nothing to the party, so why should we expect to take anything home?
Warren Buffett
amerikanischer Value-Investor, Chairman von Berkshire Hathaway (*1930), Zitateheft 2010

Instructions
Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity.
George Smith Patton
amerikanischer General (1885-1945)

Determination
Nothing great is done without great men, an they are great because they are determined to be so.
Charles de Gaulle
französischer Staatsmann (1890-1970), aus "Die Schneide des Schwertes" (Original: "Vers l'armée de métier")

Simple
Out of the freedom from worry that God's generosity provides comes an impulse toward simplicity rather than accumulation.
John Piper
amerikanischer Pastor und Autor (*1946)

Reputation
It is better to lose your time than to lose your character.
jamaikanisches Sprichwort

Requirements
We act as though comfort and luxury were the chief requirements in life, when all we need to make us really happy is something to be enthusiastic about.
wird Charles Kingsley zugeschrieben
englischer Geistlicher, Theologe und Schriftsteller (1819-1875)

Attraction of money
Money has an attraction for some people, but nobody can wear two pairs of shoes at one time.
Charles Feeney
Mitgründer der Kette DFS Duty Free Shops und der Beteiligungsgesellschaft General Atlantic Partners (1931), Zitateheft 2010

Quality
The most important loyalty of the artist is the one relating to quality.
wird Jean-Louis Barrault zugeschrieben
französischer Schauspieler, Pantomime und Regisseur (1910-1994)

Achieve the impossible
It always seems impossible until it´s done.
wird Nelson Mandela zugeschrieben, konnte aber von der Nelson Mandela Foundation nicht bestätigt werden.
südafrikanischer Anti-Apartheid-Kämpfer und Präsident 1994-99 (*1918)

Wisdom and diligence
Those who are wise won't be busy, and those who are too busy can't be wise.
Lin Yutang
chinesischer Philosoph (1895-1976), aus "The Importance of Living", 1937

Pleasing God
When a man's ways are pleasing to the Lord, he makes even his enemies live at peace with him.
Sprüche 16,7 (LUT) / Proverbs 16,7 (NIV)

Pride and haugthy spirit
Pride goes before destruction, a haughty spirit before a fall.
Sprüche 16,18 (NL) / Proverbs 16,18 (NIV)

Courage
Courage is not the absence of fear, but rather the judgement that something else is more important than one's fear. The timid presume it is the lack of fear that allows the brave to act when the timid do not. but to take action when one is not afraid is easy. To refrain when afraid is also easy. To take action regardless of fear is brave.
Ambrose Hollingworth Redmoon
amerikanischer Hippie und Musikmanager (1933-1996), eigentlich James Neil Hollingworth

Learning
The beautiful thing about learning is nobody can take it away from you.
wird B.B. King zugeschrieben
amerikanischer Blues-Musiker (*1925)

Do it now
Our grand business undoubtedly is, not to see what lies dimly at a distance, but to do what lies clearly at hand.
Thomas Carlyle
schottischer Essayist und Historiker (1795-1881), aus "Signs of Times", 1829

Ability
Ability is nothing without opportunity.
wird Napoleon Bonaparte zugeschrieben
französischer General und Kaiser (1769-1821)

Kindness
Be kind, for everyone you meet is fighting a hard battle.
wird Platon zugeschrieben
griechischer Philosoph (etwa 428-348 vor Christus)

Share
There is enough for everybody's need, but not for everybody's greed. If everybody shares enough, everybody has enough.
Dr. Frank Buchman
US-amerikanischer Theologe, Gründer der Moralischen Aufrüstung (MRA) (1878-1961)

Need for support
It is error alone which needs the support of government. Truth can stand by itself.
Thomas Jefferson
3. amerikanischer Präsident von 1801-1809 und Vertreter der amerikanischen Aufklärung (1743-1826), aus Notes on Virginia, Query 17, 1782

contrast
I have lerned silence from the talkative, toleration from the intolerant, and kindness from the unkind; yet, strange, I am ungrateful to those teachers.
Khalil Gibran
libanesischer Dichter, Philosoph und Maler, auch Kahlil Gibran (1883-1931), aus Sand und Schaum

Act justly
Fear God - act justly and dread no one
Lebensmotto Rickmer Clasen Rickmers
deutscher Werftbesitzer und Reederei-Gründer (1806-1886)

Migrants
Migrants do not so much break the law as the law breaks them.
Hernando de Soto
peruanischer Ökonom (*1941), aus "Freiheit für das Kapital! Warum der Kapitalismus nicht weltweit funktioniert", Kapitel 2: Gesetzliche Hindernisse, Zitateheft 2009

Help
There is no one so rich that they don't need help or so poor that they cannot help.
Sprichwort
Zitateheft 2009

Integrity
Integrity has no need for rules.
Albert Camus
französischer Philosoph und Schriftsteller, Literaturnobelpreis 1957 (1913-1960), aus "Der Mythos des Sisyphos" 1942, Zitateheft 2009

Outperformance
My observation over the past two decades is that most investors who significantly outperform the market over the longer run, do so because of their implicit or explicit utilization of good theories along the way. In using these, they prove less wrong than the consensus and thus end up richer.
Dr. Horace "Woody" Brock
amerikanischer Unternehmensberater, Gründer und Geschäftsführer von Strategic Economic Decisions, Inc. (*1945), Zitateheft 2009

Private Enterprise
Some regard private enterprise as a predatory tiger to be shot. Others look on it as a cow they can milk. Only a handful see it for what it really is - the strong and willing horse that pulls the whole cart.
Winston Churchill
britischer Premierminister 1940-45 und 1951-55 (1874-1965), in einer Rede am 29. Oktober 1959, Zitateheft 2009

Advertisement
If you cut down advertisement to save money, you might as well stop your watch to save time.
wird Henry Ford zugeschrieben
amerikanischer Ingenieur und Unternehmer (1863-1947), Zitateheft 2009

Tithing
You hear a lot of strange things about tithing. Some say it is a church tax, and they expect me to pay it and that is the end of it. Others say that when I give God one-tenth of my income, He blesses the nine-tenths that is left to the extent that the nine-tenths now goes as far as the whole thing used to go. This isn’t really true, is it? Suppose a farmer had 100 bushels of corn in the barn and he decides to plant 10 bushels in the ground. What multiplies? Is it the 90 bushels that he has left in the barn? Oh, no. All of us “farmers” know it is the 10 bushels you put in the ground that multiplies. Similarly, it is the 10 percent you give to God that multiplies.
Dr. R. Stanley Tam
amerikanischer Unternehmer, u.a. United States Plasic Corp., und Philanthrop (*1915), aus "God owns my Business", Zitateheft 2009

Priorities
A politician thinks of the next election, a statesman of the next generation.
wird James Freeman Clarke zugeschrieben
amerikanischer Prediger und Autor (1810-1888), Zitateheft 2009

Risk
Every time we've moved ahead in IBM, it was because someone was willing to take a chance, put his head on the block, and try something new.
Thomas John Watson, jr.
amerikanischer Manager, Vorstandsvorsitzender IBM 1952-71 (1914-1993), Zitateheft 2009

Resources
Isreael's lack of natural resources, such as oil, is actually a benefit, because it has required us to be innovative and to engage in hard work.
Stef Wertheimer
israelischer Unternehmer, Gründer von ISCAR (*1926), Zitateheft 2009

Future
Teach us to realize how short our lives are. Then our hearts will become wise.
Psalm 90,12 (LUT) / Psalms 90:12 (NIRV)
Zitateheft 2009

Don't have others do the talking for you
We didn’t really need all that fancy legal stuff. The lawyers have a way of dragging you in and making things more complicated than they are. We were paying huge legal bills at that time, and I don’t think any of that would have affected the outcome. When the dust settles, you find out it was all just a huge waste of time, energy and money.
Robert (Bob) Warren Miller
amerikanischer Unternehmer, Mitgründer der DFS Duty Free Shops (*1933), über seinen Versuch, den Verkauf der Anteile seiner Partner an LVMH zu stoppen, Zitateheft 2009

Back to the roots
"Doc, I have an earache." 2000 B.C. "Here, eat this root." 1000 B.C. "That root is heathen, say this prayer." 1850 A.D. "Prayer is superstition, drink this potion." 1930 "That potion is snake oil, swallow this pill." 1970 "That pill is ineffective, take this antibiotic." 2000 "That antibiotic is artificial, here, eat this root."
Anonymus
"History of Medicine", wurde im Internet 1997-98 verbreitet, Quelle: 106 utne reader, http://www.hsc.stonybrook.edu/som/fammed/newsletters/VOL1398F.htm, Zitateheft 2009

Creation of wealth
Nevertheless, the Tenth Commandment - 'Thou shalt not covet' - recognizes that making money and owning things could become selfish activities. But it is not the creation of wealth that is wrong, but love of money for its own sake. The spiritual dimension comes in deciding what one does with the wealth. How could we respond to the many calls for help, or invest for the future, or support the wonderful artists or craftsmen whose work also glorifies God, unless we had first worked hard and used our talents to create the necessary wealth?
Margaret Thatcher
britische Premierministerin 1979-90 (*1925) aus "Speech to the Church of Scotland General Assembly" vom 21. Mai 1988, Zitateheft 2009

Capital
The highest use of capital is not to make more money, but to make money do more for the betterment of life.
Henry Ford
amerikanischer Ingenieur und Automobil-Unternehmer (1863-1947) aus "My life and work", Zitateheft 2009

Free market economy
The great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.
Milton Friedman
amerikanischer Ökonom, Nobelpreis für Wirtschaft 1976 (1912-2006), Zitateheft 2009

Give
All you have shall some day be given; therefore give now, that the season of giving may be yours and not your inheritors.
Khalil Gibran
libanesischer Dichter, Philosoph und Maler, auch Kahlil Gibran (1883-1931), Zitateheft 2009

Giving
It is an anomaly of modern life that many find giving to be a burden. Such persons have omitted a preliminary giving. If one first gives himself to the Lord, all other giving is easy.
wird John S. Bonnell zugeschrieben
amerikanischer Pastor und Autor (1893-1992), Zitateheft 2009

Form
We shape our buildings, and afterwards our buildings shape us.
Winston Churchill
britischer Premierminister 1940-45 und 1951-55 (1874-1965) in seiner Rede zum Wiederaufbau des Unterhauses, Zitateheft 2009

Succesful investment
The only investment I ever made which has paid consistently increasing dividends is the money I have given to the Lord.
wird James L. Kraft zugeschrieben
amerikanischer Unternehmer, Gründer von J.L. Kraft & Bros., heute Kraft Foods Inc. (1874-1953), Zitateheft 2009

Stay with a problem
It's not that I am smart, it's just that I stay with problems longer.
unbekannt
wird oft fälschlich Albert Einstein zugeschrieben, Zitateheft 2009

The golden rule
As you give, so shall you receive.
Matthäus 7,12 und Lukas 6,31
"Was Du nicht willst, daß man Dir tut, das füg auch keinem andern zu!", Zitateheft 2009

The right moment
Being prepared means much, being able to wait means more, but to make use of the right moment means everything.
Arthur Schnitzler
österreichischer Erzähler und Dramatiker (1862-1931), aus "Buch der Sprüche und Bedenken", Zitateheft 2009

Characters
The world consists of those who make things happen, those who watch something happening, and those who ask what happened.
Norman R. Augustine
amerikanischer Manager, ehemaliger CEO Lockheed Martin Corporation (*1935), Zitateheft 2009

Change agents
We are change agents, we change managers into entrepreneurs, we teach them long-term thinking.
Henry Kravis
amerikanischer Private Equity-Manager: KKR (*1944), Zitateheft 2009

Possession
If you own something you cannot give away, then you don't own it, it owns you.
wird Albert Schweitzer zugeschrieben
Missionsarzt und Friedensnobelpreisträger (1875-1965), Zitateheft 2009

Calling
If you make your calling your profession you don't work, you live.
Michael Flatley
irisch-amerikanischer Tänzer und Choreograph (*1958), Zitateheft 2009

Conversion
There are three conversions: first the head, then of the heart, and finally of the pocketbook.
wird Martin Luther zugeschrieben
deutscher Reformator (1483-1546), Zitateheft 2009

riches
The greatest good you can do for another is not just to share your riches but to reveal to him his own.
wird Benjamin Disraeli zugeschrieben
englischer Schriftsteller und Premierminister 1868 und 1874-80 (1804-1881)

Correctness
Every man has a right to be wrong in his opinions. But no man has a right to be wrong about his facts.
wird Bernard Baruch zugeschrieben
US-amerikanischer Finanzier (1870-1965)

Age
To me, old age is always fifteen years older than I am.
Bernard Baruch
US-amerikanischer Finanzier, an seinen 85ten Geburtstag, zitiert in "The Observer", 21.08.1955

Wishes
A lot of people are afraid to say what they want. That's why they don't get what they want.
Madonna
US-amerikanische Sängerin, Schauspielerin, Songschreiberin, Tänzerin, Buchautorin, Filmregisseurin, eigentl. Madonna Louise Ciccone (*1958)

The lesson of the Samurai
The lesson of the Samurai Many are those who will give advice, but few are those who will accept it with gratitude, and even fewer are those who will follow it. After the age of 30, man becomes generally impermeable to guidance. And when guidance no longer reaches him, he rapidly becomes full of pride and self-interest. For the rest of his days, he adds impudence to foolishness, which causes his irreversible fall. This is why it is indispensable to find someone capable of discernment, and to bind yourself to him in order to receive his teachings.
Aus dem Hagakure (Ehrenkodex der Samurai)

individuality
During my eighty-seven years I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual or the ability to think.
Bernard Baruch
US-Amerikanischer Finanzier und Börsenspekulant (1870-1965)

Goals
People are not lazy. They simply have impotent goals - that is, goals that do not inspire them.
wird Anthony Robbins zugeschrieben
amerikanischer Autor und Motivationstrainer (*1960)

Constraints in conglomerates
There ain't no nice guys in big business.
wird Carl Cecilian Icahn zugeschrieben
amerikanischer Multi-Millionär und Groß-Investor (*1936)

Poverty
The poor stay poor not because they are lazy, but because they have no access to capital.
wird Milton Friedman zugeschrieben
amerikanischer Ökonom, Nobelpreis für Wirtschaft 1976 (1912-2006)

Professional Investment
The game of professional investment is intolerably boring and over-exacting to anyone who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll.
wird John Maynard Keynes zugeschrieben
britischer Nationalökonom (1883-1946)

Rules for Life
Rule 1: Life is not fair – get used to it! Rule 2: Thro world won’t care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself. Rule 3: You will NOT make $40.000 a year right out of high school. You won’t be a vice-president with a car phone until you earn both. Rule 4: If you think your teacher is tough, wait till you get a boss. Rule 5: Flipping burgers is not beneath your dignity. Your Grandparents had a different word for burger flipping: they called it opportunity. Rule 6: If you mess up, it’s not your parents fault, so don’t whine about your mistakes, learn from them. Rule 7: Before you were born, your parents weren’t as boring as they are now. They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you thought you were. So before you save the rain forest from the parasites of your parent’s generation, try delousing the closet in your own room. Rule 8: Your school may have done away with winners and losers, but life HAS NOT. In some schools, they have abolished failing grades and they’ll give you as MANY TIMES as you want to get the right answer. This doesn’t bear the slightest resemblance to ANYTHING in real life. Rule 9: Life is not divided into semesters. You don’t get summers off and very few employers are interested in helping you FIND YOURSELF. Do that in your own time. Rule 10: Television is NOT real life. In real life people actually have to leave the coffee shop and go to jobs. Rule 11: Be nice to nerds. Chances are you’ll end up working for one.
Charles J. Sykes
amerikanischer Journalist und Autor (*?), aus einem Artikel in der San Diego Union Tribune vom 19. September 1996, wird oft fälschlicherweise Bill Gates zugeschrieben

Leader
The leader is the servant who removes the obstacles that prevent people from doing their jobs.
unbekannt

Power of Money
To the question how money can stop wars: When two opposing sides each have enough money, the usually don't make war.
Irving Kahn
amerikanischer Value-Investor, Gründer der Kahn Brothers & Company, Inc. (*1905)

Wealth
It's OK to have wealth. But keep it in your hands, not in your heart.
unbekannt

God's language
God whispers to us in our pleasures, speaks in our conscience, but shouts in our pains: it is His megaphone to rouse a deaf world.
C.S. Lewis
britischer Schriftsteller (1898-1963), aus "Über den Schmerz" (Original: "The Problem of Pain", 1940)

Comfort
There is no good applying to Heaven for earthly comfort. Heaven can give heavenly comfort; no other kind.
C.S. Lewis
britischer Schriftsteller (1898-1963), aus "Was man die Liebe nennt" (Original "The Four Loves", 1960)

Democracy
Democracy is a device that ensures we shall be governed no better than we deserve.
wird George Bernard Shaw zugeschrieben
irischer Schriftsteller (1856-1950)

Dream
You see things as they are and ask "Why?" I dream things as they never where and ask "Why not?"
George Bernard Shaw
irischer Schriftsteller (1856-1950), aus "Zurück zu Methusalem" (Originial "Back to Methuselah", 1921)

True friendship
You only love your friend truly, when you love God in your friend, either because he is in him, or in order that he may be in him.
Aurelius Augustinus
lateinischer Kirchenvater (354-430), Predigt 336,2

Small people
Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great.
wird Mark Twain zugeschrieben
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910), Zitateheft 2008

Responsibility
Freedom means responsibility; that is the reason why most people are afraid of it.
George Bernard Shaw
irischer Schriftsteller (1856-1950), Zitateheft 2005

Secret of success
The secret of success is constancy to purpose.
Benjamin Disraeli
englischer Schriftsteller und Primierminister 1868 und 1874-80 (1804-1881), in einer Rede beim Bankett der National Union of Conservative and Constitutional Associations am 24.6.1872

World
When you rule your mind, you rule your world.
Bill Provost
(ausgewählt von John Marks Templeton (Investor und Philanthrop (1912-2008)), Zitatebuch 2002

Faults
Love hast the patience to endure the fault we cannot cure.
J. Jelinek
(ausgewählt von John Marks Templeton, Investor und Philanthrop (1912-2008)), Zitatebuch 2002

Possibilities
There are more possibilities in the universe than one can imagine.
unbekannt
ausgewählt von John Marks Templeton (Investor und Philanthrop (1912-2008))

Scapegoats
The search for a scapegoat is the easiest of all hunting expeditions.
wird Dwight D. Eisenhower zugeschrieben
amerikanischer General und Präsident von 1953-61 (1890-1969)

Backbone
If you stand up and be counted, from time to time you may get yourself knocked down. But remember this: A man flattened by an opponent can get up again. A man flattened by conformity stays down for good.
Thomas John Watson , jr.
amerikanischer Manager, Vorstandsvorsitzender IBM 1952-71 (1914-1993)

God-given
In our good works nothing is our own.
Johannes Calvin
Reformator und Begründer des Calvinismus, eigentlich Jean Cauvin (1509-1564)

Cheapest car
The cheapest car you can ever own is the one you currently own.
Ron Blue
christlicher Finanzberater (*1942)

Charitable giving
Charitable giving should be a spiritual, rather than economic, decision. Economically, charitable giving never pays.
Ron Blue
christlicher Finanzberater (*1942)

Key to success
I don't know the key to success, but the key to failure is trying to please everybody.
wird Bill Cosby zugeschrieben
amerikanischer Schauspieler, Sänger und Autor, eigentlich William Henry Cosby (*1937)

Time management
Time management, really deciding what are the things that count, is a real skill that takes time to learn. it took me a lot of time to get that right.
wird William H. "Bill" Gates zugeschrieben
amerikanischer Software-Unternehmer, Microsoft (*1955)

Money
We can either use our money to serve God or God will be our money.
Denny (*1951) and Leesa (*1955) Bellesi
Gründer von "The Kingdom Assignment"

What expenditures tell you
Give me five minutes with a persons checkbook, and I will tell you where their heart is.
wird Billy Graham zugeschrieben
amerikanischer Prediger, eigentlich William Franklin Graham jr. (*1918)

Motivation
Do what you love.
wird Ted Koppel zugeschrieben
amerikanischer Journalist, eigentlich Edward James Koppel (*1940)

Contentment
He who is not contented with what he has, will not be contented with what he doesn't have.
wird Sokrates zugeschrieben
griechischer Philosoph (469-399 vor Christus)

Possession
The world asks, what does a man own? Christ, how does he use it?
Andrew Murray
südafrikanischer Pfarrer und Schriftsteller (1828-1917), aus "Money"

Bargains
Find bargains and maintain discipline; if you can not find bargains stay in cash.
Francis Chou
kanadischer Fund Manager, Fund Manager des Jahrzehnts 2004 (*1956)

Action
Vision without action is a daydream. - Action without a vision is a nightmare.
japanisches Sprichwort

Give away
Everything we have is really loaned to us; we can't take anything with us when we depart. If we have no use for a thing, we should pass it on to someone else who can use it - now.
wird Norma S. Scholl zugeschrieben

Wealth
The gratification of wealth is not found in mere possession or in lavish expenditure, but in its wise application.
wird Miguel de Cervantes Y Saavedra zugeschrieben
spanischer Schriftsteller (1547-1616)

Difficulties
Difficulties exist to be surmounted.
Ralph Waldo Emerson
amerikanischer Schriftsteller (1803-1882), aus einer Rede in Cambridge, 18. Juli 1867

Good life
To have a good life you need to live hidden.
französisches Sprichwort

Riches
Where riches hold the dominion of the heart, God has lost his authority.
wird Johannes Calvin zugeschrieben
Reformator und Begründer des Calvinismus, eigentlich Jean Cauvin (1509-1564)

Give away
He is no fool who gives what he cannot keep to gain that which he cannot lose.
Jim Elliot
amerikanischer Missionar, eigentlich Philip James Elliot (1927-1956), Tagebucheintrag vom 28. Oktober 1949

Waste
Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like.
William Penn Adair "Will" Rogers
amerikanischer Humorist (1879-1935)

Wisdom
A wise man seeks Wisdom; a madman thinks that he has found it.
persisches Sprichwort

Serve God with money
Remember this: you can't serve God and money but you can serve God with money.
Selwyn Hughes
englischer Pastor und Autor, Gründer des christlichen Verlags CWR (1928-2006), aus "Service in the Eighth Degree - A biblical perspective on giving"

"Simple" job
I was happier when I was doing a mechanic's job.
wird Henry Ford zugeschrieben
amerikanischer Ingenieur und Unternehmer (1863-1947)

Money doesn't bring happiness
I have made many millions but they have brought me no happiness.
wird John D. Rockefeller zugeschrieben
amerikanischer Öl-Magnat, Sonntagsschul-Lehrer und zu seiner Zeit reichster Mann der Welt (1839-1937)

Realize
Five Frogs are sitting on a log. Four decide to jump off. How many are left? The answer is five - because there is a difference between deciding and doing.
Mark L. Feldman und Michael F. Spratt
amerikanische Unternehmer, Mark L. Feldmann: Start-up Farms International und Destiny Bay Vineyards (*1947), Michael F. Spratt: Destiny Bay Vineyards (*1950), in "Five Frogs on a Log: A CEO's Field Guide to Accelerating the Transition in Mergers, Acquisitions and Gut Wrenching Change

Listen
You have two ears and one mouth.
Frederik Cappelen
schwedischer Manager, ehemaliger CEO Nobia (*1957)

Allow mistakes
I can be wrong more offen than I am right, so long as the leverage on my correct judgments compensates for my mistakes.
wird Leon Levy zugeschrieben
amerikanischer Fund-Manager: Oppenheimer Fund (1926-2003)

Wellbeing
The Forbes list of the 400 richest Americans had about the same level of wellbeing as the Maasai of East Africa, a traditional herding people who live in huts with no electricity or running water.
Ed Diener
amerikanischer Psychologieprofessor (*1946), aus Barclays Wealth Insights, Volume 4: The True Value of Wealth

Meaning of Life
A man has made at least a start on discovering the meaning of human life when he plants shade trees under which he knows full well he will never sit.
wird D. Elton Trueblood zugeschrieben
amerikanischer Autor, Philosoph und Theologe (1900-1994)

Money
Come to see money not as a passport to luxury but as a dangerous encumbrance, and you will not find it ridiculous to give to whoever needs it.
John Boykin
amerikanischer Autor (*1952)

Kingdom of Heaven
If we think that heaven is our country, we should send our wealth thither rather than reatin it here, where on our sudden daparture it will be lost to us.
Johannes Calvin
französischer Reformator, Begründer des Calvinismus (1509-1564), aus "Unterricht in der christlichen Religion"

Charity and covetousness
Charity gives itself rich, covetousness hoards itself poor.
deutsches Sprichwort

Employ Money
If a man is proud of his wealth, he should not be praised until it is known, how he employs it.
wird Sokrates zugeschrieben
griechischer Philosoph (469-399 vor Christus)

Give God the credit
A lot of people are willing to give God the credit, but not too many are willing to give him the cash.
unbekannt

God's work
God's work done in God's way will never lack God's supply.
James Hudson Taylor
Englisher Missionar in China (1832-1905)

False estimation
Most people ignore probabilities and exaggerate risk.
Ralf Wanger
amerikanischer Fund-Manager (*1934), aus "A Zebra in Lion Country"

Creating value
Many managers wonder why we create value where they don't succeed. That is due to the factors we talked about: The 100-day plan, the measuring systems, entrepreneurial mentality that we encourage and our way of control.
Henry Kravis
amerikanischer Private Equity-Manager (KKR) (*1944)

Spiritually poor
This country cannot afford to be materially rich and spiritually poor.
John F. Kennedy
amerikanischer Präsident 1961-63 (1917-1963), aus seiner Rede zur Lage der Nation vom 14. Januar 1963

Greediness and idolatry
If anyone does not refrain from the love of money, he will be defiled by idolatry and so be judged as if he were one of the heathen.
Polykarp
Bischof von Smyrna (ca.69/70 - ca. 155/156), in seinem Brief an die Philipper

What the world needs
Don't ask yourself what the world needs. Ask yourself what makes you come alive, and go do that, because what the world needs is people who have come alive.
John Eldredge
american christian counsellor and author (*1960)

Why God loves
God loves us not because we are lovable, but because He ist love.
C. S. Lewis
britischer Schriftsteller (1898-1963), aus Collected Letters of C.S. Lewis: Volume III, Letter to Mary Van Deusen, May 25, 1951

Satisfying Life
Believing in our hearts that who we are is enough is the key to a more satisfying and balanced life.
Ellen Sue Stern
amerikanische Lebensberaterin und Autorin (*1954)

Why?
I've just been a machine for making money. I seem to have spent my life in a golden tunnel looking for the outlet which would lead to happiness. But the tunnel kept going on. After my death there will be nothing left.
wird Aristoteles Onassis zugeschrieben
griechischer Reeder (1906-1975), galt zu seiner Zeit als einer der reichsten Männer der Welt

Investing
Investing in a market sector simply because "it's done so well" is like choosing to plant corn in October because your neighbor's corn has grown so well since April.
Ronald H. "Ron" Muhlenkamp
amerikanischer Investor, Fund-Manager und Autor, Gründer von Muhlenkamp & Company (*1944)

Patience
Patience is bitter, but its fruit is sweet.
unbekannt

Life
For those who are faithful to you, Lord, life is not lost but changed.
aus der katholischen Totenmesse

Riches
Riches enlarge rather than satisfy appetites.
wird Thomas Fuller zugeschrieben
englischer Mönch und Autor (1608-61)

Money
Money is a great treasure that only increases as you give it away.
wird Sir Francis Bacon zugeschrieben
englischer Philosoph und Staatsmann (1561-1626)

Bequeath
I would as soon leave to my son a curse as the almighty Dollar.
Andrew Carnegie
amerikanischer Stahlunternehmer schottischer Herkunft (1835-1919), aus "The Gospel of Wealth"

Work and success
The only place where success comes before work is in the dictionary.
unbekannt

Give the best
Give to the world the best you have, and the best will come back to you.
Madeline Bridges
amerikanische Dichterin, eigentlich Mary Ainge de Vere (1844-1920)

Learning
A man only learns in two ways, one by reading, and the other by association with smarter people.
William Penn Adair "Will" Rogers
amerikanischer Humorist (1879-1935)

Income Tax
The income tax has made more liars out of more Americans than golf has.
William Penn Adair "Will" Rogers
amerikanischer Humorist (1879-1935)

Devotion to Jesus
The greatest competitor of devotion to Jesus is service for Him.
Oswald Chambers
schottischer Prediger und Autor (1874-1917), Zitateheft 2008

Focus
Behold, the fool saith, "Put not all thine eggs in the one basket" - which is but a manner of saying, "Scatter your money and your attention"; but the wise man saith, "Put all your eggs in the one basket and - watch the basket!"
Mark Twain
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910), Zitateheft 2008

Explaining the world with words or with mathematical formulas
Since the mathematicians have invaded the theory of relativity, I do not understand it myself anymore.
wird Albert Einstein zugeschrieben
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955), Zitateheft 2008

Money
The currency of this world will be worthless at our death or at Christ's return, both of which are imminent.
Randy C. Alcorn
Leiter der Eternal Perspective Ministries und Autor (*1954), Zitateheft 2008

Giving
It is more blessed to give than to receive.
Apostelgeschichte 20,35 (LUT) / Acts 20:35 (NIRV)
Zitateheft 2008

Giving
No one has ever become poor by giving.
Anne Frank
jüdische Bankierstochter, starb im KZ Bergen-Belsen (1929-1945), Zitateheft 2008

Investment advantage
Your investment advantage is usually at its greatest immediately before, during and right after the corporate event or change.
Joel Greenblatt
amerikanischer Hedge-Fonds-Manager und Honorarprofessor an der Columbia University (*1957), Zitateheft 2008

Homestead
We didn't inherit the land from our fathers. We are borrowing it from our children.
Sprichwort der Amischen
Zitateheft 2008

Good and bad
There is nothing so bad that someone won't praise it, or so good that someone won't complain.
finnisches Sprichwort
Zitateheft 2008

Care
People don't care how much you know until they know how much you care.
unbekannt
Zitateheft 2008

Wife
God does not give you a wife to frustrate you but to complement you.
Howard G. Hendricks
amerikanischer Professor am Dallas Theological Seminary (*1924), Zitateheft 2008

The essential
The virtue of the candle lies not in the wax, but in its light.
Sprichwort
Zitateheft 2008

Plans
The plans of the diligent lead to profit as surely as haste leads to poverty.
Sprüche 21,5 (HFA / NIV)
Zitateheft 2008

Majority
Whenever you find yourself on the side of the majority, it is time to pause and reflect.
Mark Twain
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910), Zitateheft 2008

Compound interest
Compound interest is the eighth natural wonder of the world and the most powerful thing I have ever encountered.
unbekannt
wird oft fälschlich Albert Einstein zugeschrieben, Zitateheft 2008

Prevent problems
Intellectuals solve problems, geniuses prevent them.
unbekannt
wird oft fälschlich Albert Einstein zugeschrieben, Zitateheft 2008

Real World
In all my years in investing, there's one rule I've prized beyond every other: Always bet against central banks and with the real world. In the seventies, the central banks were defending the United States' artificially low price of gold. Central banks and governments always try to maintain artificial levels, high or low, whether of a currency, a metal, wool, whatever. When a central bank is defending something - whether it's gold at thirty-five dollars or the lira at eight hundred to the dollar - the smart investor always goes the other way. It may take a while but I promise you you'll come out ahead. It's a golden rule of investing.
James "Jim" Rogers
amerikanischer Investor (*1942), Zitateheft 2008

Trustee
What I possess, God owns.
Howard Dayton
Mitgründer der Crown Financial Ministries (*1943), Zitateheft 2008

Trust
So do not fear, for I am with you; do not be dismayed, for I am your God. I will strengthen you and help you; I will uphold you with my righteous right hand.
Jesaja 41,10 (HFA) / Isaiah 41,10 (NIV)
Zitateheft 2008

Tithe
I never would have been able to tithe the first million Dollars I ever made if I had not tithed my first salary, which was $1.50 per week.
wird John D. Rockefeller zugeschrieben
amerikanischer Öl-Magnat, Sonntagsschul-Lehrer und zu seiner Zeit reichster Mann der Welt (1839-1937), Zitateheft 2008

Recognize shortcomings
Recognize the skills and traits you don't possess, and hire people who have them.
Howard Schultz
amerikanischer Unternehmer (Starbucks) (*1953), Zitateheft 2008

Plan
Plan so big that you need God to fulfill your plan.
Bill Bright
amerikanischer Evangelist, Gründer von Campus Crusade for Christ International, eigentlich Dr. Willam Rohl Bright (1921-2003), Zitateheft 2008

Circumstances
People are always blaming their circumstances for what they are. I don't believe in circumstances. The people who get on in this world are the people who get up and look for the circumstances they want, and, if they can't find them, make them.
George Bernard Shaw
irischer Schriftsteller (1856-1950) aus "Mrs. Warren's Profession" (Frau Warrens Gewerbe), Zitateheft 2008

Dullness and riches
One of the many stereotypes of the Swiss is that they are perceived – by the global non-Swiss community – as dull. One of the reasons the Swiss are dull – according to an article we came across some years ago – is that the Swiss never had victories on battlefields to speak of, never had colonies, never had social upheavals, never had social disasters. The Swiss, unlike their neighbors, don’t even strike. The article went on to the argue that periods of stress, such as war, bring out the best in terms of human inventiveness and creativity. … However, Switzerland – by any standard – is also among the world’s richest nations. Has the reader ever thought that there might be a relationship between dullness and riches?
Alexander Ineichen
Schweizer Banker (*1967) aus "Asymmetric Returns", Zitateheft 2008

Doings
I wish Karl would acquire some capital, instead of just writing about it.
wird Henrietta Marx zugeschrieben
Mutter von Karl Marx ( 1788-1863) laut "The World's Greatest People. All Things Family, Audio CD, Vol. 1, Disk 6", Zitateheft 2008

Statistics
Most economists use statistics like drunks use lampposts: for support rather than for light.
unbekannt
wird in ähnlicher Form Andrew Lang (1844-1912) und fälschlicherweise Winston Churchill (1874-1964) zugeschrieben, Zitateheft 2008

Silence
Do not speak unless you can improve on the silence.
Kloster-Regel
Zitateheft 2008

Charity work
Doing charity work is the opposite of investing - we look for the most difficult problem to solve and the ones that have the lowest possibility of success.
unbekannt
Zitateheft 2008

Change the world
Never doubt that a small group of thoughtful, committed citizens can change the world.® Indeed, it is the only thing that ever has.
Margaret Mead
amerikanische Anthropologin und Ethnologin (1901-1978), Courtesy of The Institute for Intercultural Studies, Inc., New York, Zitateheft 2008

Trust
If you can't trust the CEO with your children should something happen to you. You should not go on the board.
Armando Codina
amerikanischer Unternehmer und Investor

Get together
Coming together is a beginning, staying together is progress, and working together is success.
Henry Ford
amerikanischer Ingenieur und Unternehmer (1863-1947), Zitateheft 2008

Time
Time does not change us. It just unfolds us.
Max Frisch
schweizerischer Schriftsteller (1911-1991), Zitateheft 2008

Advertising
The philosophy behind much advertising is based on the old observation that every man is really two men - the man he is and the man he wants to be.
wird William Feather zugeschrieben
amerikanischer Autor und Verleger (1889-1981), Zitateheft 2008

Life
Life is like riding a bicycle. To keep your balance you must keep moving.
Albert Einstein
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955), Zitateheft 2008

Questions
Who questions much, shall learn much, and retain much.
Sir Francis Bacon
englischer Philosoph und Staatsmann (1561-1626), Zitateheft 2008

Market economy
At the bottom of many criticisms of the market economy is really lack of belief in freedom itself.
Milton Friedman
amerikanischer Ökonom, Nobelpreis für Wirtschaft 1976 (1912-2006), Zitateheft 2008

Payment
In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later.
Harold S. Geneen
amerikanischer Manager (u.a. ITT) (1910-1997), Zitateheft 2008

Work and luck
I find that the harder I work, the more luck I seem to have.
wird Thomas Jefferson zugeschrieben
3. amerikanischer Präsident von 1801-1809 und Vertreter der amerikanischen Aufklärung (1743-1826), Zitateheft 2008

Modesty
To the question: “Today you are a billionaire. What do you afford rather than before?” Nothing. You know I am a guy who wears boots, I have some more suits in my cupboard, but I still drive an old Volvo, and I don’t have a yacht or a private jet. And I got the same wife for 36 years.
Kenneth L. Fisher
amerikanischer Investor (*1950), Zitateheft 2008

Possessions
I have held many things in my hands, and I have lost them all. But whatever I have placed in God's hands, that I still possess.
wird Martin Luther zugeschrieben
deutscher Reformator (1483-1546), Zitateheft 2008

State
The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else.
Frédéric Bastiat
französischer Ökonom und Journalist (1801-1850), Zitateheft 2008

Experience
Experience is not what happens to a man; it is what a man does with what happens to him.
Aldous Leonard Huxley
britischer Schriftsteller (1894-1963), Zitateheft 2008

Joy of Business
The joy of Business lies in the drive to succeed for the sake, not of the fruits of success but of success itself, in the will to conquer, in the impulse to fight for what's right, and in the thrill of exercising our energy and ingenuity.
nach Joseph Alois Schumpeter
österreichischer Nationalökonom (1883-1950), Zitateheft 2008

Freedom
Man does not want liberty in order to maximize his utility, or that of the society of which he is a part. He wants liberty to become the man he wants to become.
James M. Buchanan
Amerikanischer Ökonom, Nobelpreis für Wirtschaftswissenschaften 1986 (*1919), Zitateheft 2008

Owners
Companies should act as if they have owners, because they do, and investors should act like they are owners, because they are.
Investoren-Motto
Zitateheft 2008

Improvement
There's a way to do it better - find it.
Thomas Alva Edison
amerikanischer Erfinder (1847-1931), Zitateheft 2008

Mission
Every mission risks losing its identity as a mission if it eliminates suffering servanthood in exchange for personal ease on a par with the world's standards.
Stephen E. Freed
International Director einer internationalen "Missions-Agentur" (International Teams, www.iteams.org)

Resolve
Resolve and thou art free.
Henry Wadsworth Longfellow
amerikanischer Dichter (1807-1882), aus "The Masque of Pandora", Teil VI "In the Garden"

Crisis
The word crisis in Chinese is composed of two characters: the first is the symbol of danger... the second of opportunity.
unbekannt

Good Theories
I like good theories. They work better.
unbekannt
wird oft fälschlich Albert Einstein zugeschrieben

Diligence
Whatever is worth doing at all, is worth doing well.
Philip Dormer Stanhope, 4th Earl of Chesterfield
britischer Staatsmann (1694-1773), in einem Brief an seinen Sohn am 9.10.1746

Greatness
It is not important how big your house is but your heart.
unbekannt

Laws
Life, liberty, and property do not exist because men have made laws. On the contrary, it was the fact that life, liberty, and property existed beforehand that caused men to make laws in the first place.
Frédéric Bastiat
französicher Ökonom und Journalist (1801-1850), aus "Der Staat - die große Fiktion"

Success
If you want to go fast, go alone. If you want to go far, go together.
unbekannt
kenianisches Sprichwort, Zitateheft 2005

Who am I?
Who am I? They often tell me I would step from my cell's confinement calmly, cheerfully, firmly, like a squire from his country-house. Who am I? They often tell me I would talk to my warden freely and friendly and clearly, as though it were mine to command. Who am I? They also tell me I would bear the days of misfortune equably, smilingly, proudly, like one accustomed to win. Am I then really all that which other men tell of, or am I only what I know of myself, restless and longing and sick, like a bird in a cage, struggling for breath, as though hands were compressing my throat, yearning for colors, for flowers, for the voices of birds, thirsting for words of kindness, for neighborliness, trembling with anger at despotisms and petty humiliation, tossing in expectation of great events, powerlessly trembling for friends at an infinite distance, weary and empty at praying, at thinking, at making, faint and ready to say farewell to it all. Who am I? This or the other? Am I one person today, and tomorrow another? Am I both at once? A hypocrite before others, and before myself a contemptibly woebegone weakling? Or is something within me still like a beaten army, fleeing in disorder from victory already achieved? Who am I? They mock me, these lonely questions of mine. Whoever I am, Thou knowest, O God, I am thine.
Dietrich Bonhoeffer
evangelischer Theologe (bekenndende Kirche) und Widerstandskämpfer (1906-1945), aus "Widerstand und Ergebung"

Follow-through
Those who are blessed with the most talent don't necessarily outperform everyone else. It's the people with follow-through who excel.
Mary Kay Ash
amerikanische Unternehmerin, Gründerin von Mary Kay Cosmetics und Philanthropin (1915-2001), aus "Mary Kay on People Management", Seite 57

Theorists
If economists wished to study the horse, they wouldn´t go and look at horses. They´d sit in their studies and say to themselves, "what would I do if I were a horse?"
wird Ely Devon zugeschrieben
britischer Wirtschaftswissenschaftler (1913-1967), er soll diesen Ausspruch in einer Besprechung geprägt haben.

Fortune
Fortune doesn't change a man, it only unmasks him.
Sprichwort

Pleasure
Pleasure is the only thing to live for. Nothing ages like happiness.
Oscar Wilde
irischer Schriftsteller (1854-1900), aus: Sätze und Lehren zum Gebrauch für die Jugend, erschienen in "Chamäleon" 1894

Protection
For he will command his angels concerning you to guard you in all your ways, they will lift you up in their hands, so that you will not strike your foot against a stone.
Psalm 91,11-12 (LUT) / Psalms 91,11-12 (NIV)

Work
If your work speaks for itself, don't interrupt.
wird Henry J. Kaiser zugeschrieben
amerikanischer Unternehmer, Gründer mehrerer Unternehmen - heute Kaiser Group International (1882-1967)

Experts
Even when the experts all agree, they may well be mistaken.
Bertrand Russell
britischer Philosoph und Mathematiker (1872-1970), aus "On the Value of Scepticism" (erste Seite), in "Sceptical Essays" (London 1924)

Motivation
You’ve got to make your employees happy. If the employees are happy, they are going to make the customers happy.
John Willard Marriott
amerikanischer Unternehmer, Gründer der Marriott-Hotelkette (1900-1985)

Risk
Risk is the chance of an unwanted outcome.
Leslie Rahl
amerikanische Finanzexpertin und Autorin (*1950)

Experience
Nobody ever learned anything from the second hit of a horse.
wird R. Philip Hanes zugeschrieben
amerikanischer Textil-Unternehmer und Autor (*1926)

Own instinct
Follow your own instincts, not those of people who see the world differently.
Sumner Murray Redstone
amerikanischer Medienmogul (CBS, Viacom), geboren als Sumner M. Rothstein (*1923)

Donations
On why he has donated $600 million to selected charities. "I simply decided I had enough money."
Charles Feeney
Mitgründer der Kette DFS Duty Free Shops und der Beteiligungsgesellschaft General Atlantic Partners (*1931)

Investments
The best investments are on main street, not Wall Street.
Robert Miles
amerikanischer Investmentor, Autor und Warren Buffett-Experte (*1955)

Give
We make a living by what we get. We make a life by what we give.
unbekannt
wird oft fälschlicherweise Winston Churchill zugeschrieben

Knowledge
Knowledge is like a baobab tree - one person's arms are not enough to encompass it.
afrikanisches Sprichwort

Risk
Risk = exposure to change
Alexander Ineichen
Schweizer Banker (*1967) aus "Asymmetric Returns"

Miracles
There are two ways to live your life. One is as though nothing is a miracle. The other is as if everything is.
unbekannt
wird oft fälschlicherweise Albert Einstein zugeschrieben

Clutter
If a cluttered desk is a sign of a cluttered mind, of what then is an empty desk?
unbekannt

Movement
The United States has to move very fast to even stand still.
John F. Kennedy
amerikanischer Präsident 1961-63, auf einer Pressekonferenz 1963 (1917-1963)

Responsibility
Love means that life has no meaning except in terms of responsibility; responsibility toward our family, toward our nation, toward our civilization, and now, by the pressures of history, toward the universe of mankind, which includes our enemies
wird Reinhold Niebuhr zugeschrieben
deutsch-amerikanischer Theologe (1892-1971)

Wealth
The real measure of your wealth is how much you'd be worth if you lost all your money.
unbekannt

Action
Do the right thing. It will gratify some people and astonish the rest.
Mark Twain
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910), Zitateheft 2004

From the necessary to the impossible
Start by doing what's necessary, then do what's possible, and suddenly you are doing the impossible.
Franziskus von Assisi
italienischer Ordensgründer (1181-1226), Zitateheft 2006

Margin of Safety
We are not paid by our customers to hold stocks without a margin of safety.
Amit Wadhwaney
amerikanischer Fund-Manager (*1953)

Being wrong
Being wrong is acceptable, but staying wrong is totally unacceptable.
unbekannt

Family
FAMILY = Father And Mother, I Love You
unbekannt

Brokers
Brokers know the price of everything and the value of nothing.
wird Philip A. Fisher zugeschrieben
Growth-Investor und Mentor von Warren Buffett (1907-2004)

Gratitude
He that has satisfied his thirst turns his back on the well.
Baltasar Gracián y Morales
spanischer Philosoph und Schriftsteller (1601-1658)

Patience
I just wait until there is money lying over in the corner, and all I have to do is go over there and pick it up.
James "Jim" Rogers
amerikanischer Star-Investor (*1942)

Taxes and civilisation
Taxes are the price that we pay for a civilized society.
Oliver Wendell Holmes jr.
amerikanischer Verfassungsrichter (1841-1935), Zitateheft 2006

Votes
A vote is like a rifle; its usefulness depends upon the character of the user.
Theodore Roosevelt
Präsident der USA 1901-1909 (1858-1919)

Price of greatness
The price of greatness is responsibility.
Winston Churchill
britischer Premierminister 1940-45 und 1951-55 (1874-1965)

Trigger
A mighty flame evolves from a tiny spark.
Dante Alighieri
italienischer Schriftsteller (1265-1321)

Right to criticise
He has the right to criticise who has the heart to help.
Abraham Lincoln
amerikanischer Präsident 1861-65 (1809-1865)

Anger
For every 60 seconds of anger, you lose one minute of happiness.
unbekannt
Zitateheft 2006

Spirit of Prussia
The idea of freedom can never be separated from the true spirit of Prussia.
Henning von Tresckow
deutscher Generalmajor und Widerstandskämpfer (1901-1944), Zitateheft 2006

Basic Value
Start each day from last night's close, not your original costs.
Handelsregel

Moral and economy
If moral represents an ideal world, economy shows the real world.
Steven D. Levitt
Amerikanischer Wirtschaftswissenschaftler und Autor (*1967)

Happy life
Happy wife - Happy life
Weisheit amerikanischer Männer

Are you strong enough to handle critics?
It is not the critic who counts, not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat und blood, who strives valiantly, who errs and comes short again and again because there is no effort without error and shortcomings, who knows the great enthusiasms, the great devotion, who spends himself in a worthy cause, who at his best knows in the end the high achievement of triumph and who at worst, if he fails while daring greatly, knows his place shall never be with those timid and cold souls who know neither victory nor defeat.
Theodore Roosevelt
Präsident der USA (1858-1919), am 23. April 1910 an der Sorbonne, Paris, Zitateheft 2006

Don't Quit
When things go wrong as they sometimes will. When the road you're trudging seems all up hill. When funds are low and the debts are high. And you want to smile, but you have to sigh. When care is pressing you down a bit. Rest, if you must, but don't you quit. Life is queer with its twists and turns. As everyone of us sometimes learns. And many a fellow turns about When he might have won had he stuck it out: Don't give up though the pace seems slow - You may succeed with another blow. Success is failure turned inside out - The silver tint of the clouds of doubt. And you never can tell how close you are. It may be near when it seems so far: So stick to the fight when you're hardest hit - It's when things seem worst that you must not QUIT.
unbekannt

Development potential
Inventions have long since reached there limit, and I see no hope for further developments. This proclamation was made in 10 a.d. by Roman engineer Julius Sextus Frontinus.
Julius Sextus Frontinus

Success
He has achieved success who has lived well, laughed often and loved much; who has enjoyed the trust of pure women, the respect of intelligent men and the love of little children; who has filled his niche and accomplished his task; who has left the world better than he found it, whether by an improved poppy, a perfect poem, or a rescued soul; who has never lacked appreciation of earth's beauty nor failed to express it; who has always looked for the best in others and given them the best he had; whose life was an inspiration; whose memory is a benediction.
Bessie Anderson Stanley
geschrieben 1904

Savior
If our greatest need had been information, God would have sent us an educator. If our greatest need had been technology, God would have sent us a scientist. If our greatest need had been money, God would have sent us an economist. If our greatest need had been pleasure, God would have sent us an entertainer. But our greatest need was forgiveness, so God sent us a Savior.
gesehen Pfingsten 1994 in New Orleans
Zitatebuch 2002 + 2006

False security
You have acquired a false security, and it is this false security on which you live that causes your feelings of inferiority. One lives wrapped in cotton, protected from the cold and heat. It is not good never to be cold or hot.
Dr. Carl Jung
schweizer Psychologe (1875-1961)

Serenity
God, give us grace to accept with serenity the things that cannot be changed, courage to change the things which should be changed, and the wisdom to distinguish the one from the other.
Reinhold Niebuhr
deutsch-amerikanischer Theologe (1892-1971), Zitateheft 2006. Das Gebet wird oft dem württembergischen Prälat Friedrich Christoph Oetinger (1702-1782) zugeschrieben. Dazu die Württembergische Landesbibliothek Stuttgart: http://www.wlb-stuttgart.de/referate/theologie/oetgeb00.html

Money
I worry about what money might do to my kids. So I have decided to make it very clear that they are not going to get a penny. My wife Trudie and I are heroically trying to spend it all!
Sting, eigentlich Gordon Matthew Sumner
Rockstar, dessen Vermögen von "Euro am Sonntag" auf 35 Millionen Euro geschätzt wird (*1951), Zitateheft 2005

Health more important than money
Some people waste their lives in the constant pursuit of great wealth. As a commodity, let's face it, money doesn't rate as high as good health - and it certainly isn't up there with great art.
Roy Neuberger
Finanzier und Kunstsammler (*1903)

Certainty
When I despair, I remember that all through history the way of truth and love has always won. There have been tyrants and murderers and for a time they seem invincible but in the end, they always fall -- Think of it, ALWAYS
Mahatma Gandhi
indischer Politiker (1869-1948)

Sympathy with suffering
It is much more easy to have sympathy with suffering, than it is to have sympathy with thought. Accordingly, with admirable though misdirected intentions, they very seriously and very sentimentally set themselves to the task of remedying the evils that they see. But their remedies do not cure the disease, they merely prolong it. Indeed, their remedies are part of the disease.
Oscar Wilde
aus "Die Seele des Menschen im Sozialismus" (1890), irischer Schriftsteller (1854-1900), Zitateheft 2004

Investment
All intelligent investing is value investing - to acquire more than you are paying for. Investing is where you find a few great companies und then sit on your ass.
Charlie Munger
Vice Chairman Berkshire Hathaway, Milliardär (*1924), auf der Berkshire Hauptversammlung 2000

Decision to invest
The decision to invest in one place rather than another, in one productive sector rather than another, is always a moral and cultural choice.
Papst Johannes Paul II.
Heiliger Vater 1978-2005 (1920-2005), aus "Centesimus Annus" 2001, Zitatebuch 2003

Children learn what they experience
If a child lives with criticism, he learns to condemn. If a child lives with hostility, he learns to fight. If a child lives with ridicule, he learns to be shy. If a child lives with shame, he learns to feel guilty. If a child lives with tolerance, he learns to be patient. If a child lives with encouragement, he learns confidence. If a child lives with praise, he learns to appreciate. If a child lives with fairness, he learns justice. If a child lives with security, he learns to have faith. If a child lives with approval, he learns to like himself. If a child lives with acceptance and friendship, he learns to find love in the world.
gesehen auf Guthrie Castle, Schottland
Zitatebuch 2002

Giving up
Never give in, never, never, never - in nothing, great or small, large or petty - never give in except to convictions of honour and good sense.
Winston Churchill
britischer Premierminister 1940-45 und 1951-55 (1874-1965), Rede 9. Februar 1941 World Broadcast, Zitatebuch 2002

Character
The best index to a persons character is (a) how he treats people who can't do him any good, and (b) how he treats people who can't fight back.
Abigail van Buren
amerikanische Ratgeberkolumnistin, Zitatebuch 2003

The ten commandments
1. I am the Lord thy God, which have brought thee out of the land of Egypt, out of the house of bondage. 2. Thou shalt have no other gods before me. Thou shalt not make unto thee any graven image, or any likeness of any thing that is in heaven above, or that is in the earth beneath, or that is in the water under the earth. Thou shalt not bow down thyself to them, nor serve them; for I the Lord thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me; And shewing mercy unto thousands of them that love me, and keep my commandments. 3. Thou shalt not take the name of the Lord thy God in vain; for the Lord will not hold him guiltless that taketh his name in vain. 4. Remember the sabbath day, to keep it holy. Six days shalt thou labour, and do all thy work; But the seventh day is the sabbath of the Lord thy God; in it thou shalt not do any work, thou, nor thy son, nor thy daughter, thy manservant, nor thy maidservant, nor thy cattle, nor thy stranger that is within thy gates; For in six days the Lord made heaven and earth, the sea, and all that in them is, and rested the seventh day; wherefore the Lord blessed the sabbath day, and hallowed it. 5. Honour thy father and thy mother; that thy days may be long upon the land which the Lord thy God giveth thee. 6. Thou shalt not kill. 7. Thou shalt not commit adultery. 8. Thou shalt not steal. 9. Thou shalt not bear false witness against thy neighbour. 10. Thou shalt not covet thy neighbour's house; thou shalt not covet thy neighbour's wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor anything that is thy neighbour's.
(Die ausführliche Fassung der Zehn Gebote steht in der Bibel an zwei Stellen: 2. Mose 20 und 5. Mose 5)
Bei der Zählung der Gebote gibt es im Judentum und in den christlichen Kirchen unterschiedliche Traditionen. Die hier wiedergegebene Fassung folgt der lutherischen und römisch-katholischen Tradition. Eine andere Zählung ergibt sich dort, wo das Bilderverbot - "Du sollst dir kein Bildnis machen" - gesondert als zweites Gebot geführt wird. Zitatebuch 2002

The Art of investing
The art of investing in public companies is... simply to acquire, at a sensible price, a business with excellent economics and able, honest management. Thereafter you need only monitor whether these qualities are being preserved.
Charlie Munger
Vice-Chairman von Berkshire Hathaway (*1924), Zitateheft 2005

Retrospective
When I look back on my life nowadays, which I sometimes do, what strikes me most forcibly about it is that what seemed at the time most significant and seductive, seems now most futile and absurd. For instance, success in all of its various guises, being known and being praised, ostensible pleasures, like acquiring money … going to and fro in the world and up and down it like Satan. … In retrospect all these exercises in self-gratification seem pure fantasy, what Pascal called “licking the earth.” They are diversions designed to distract our attention from the true purpose of our existence in this world, which is, quite simply, to look for God, and, in looking, to find him, and having found him, to love him, thereby establishing a harmonious relationship with his purposes for his creation.
Malcolm Muggeridge
englischer Schriftsteller (1903-1990)

Choosing a manager
The best way to choose a manager - like the best way to choose a son-in-law - is by character or culture. You should only go with a manager who aims to do what you too intend. Never try to change the way a manager manages. Only hire a manager you really expect to stay with for a very long time - at least 20 years - because the cost to change managers is high.
Charley Ellis
amerikanischer Investment-Berater und Autor (*1937), Zitateheft 2005

Humanity
For attractive lips, speak words of kindness. For lovely eyes, seek out the good in people. For a slim figure, share your food with the hungry. For beautiful hair, let a child run his/her fingers through it once a day. For poise, walk with the knowledge that you never walk alone. People, even more than things, have to be restored, renewed, revived, reclaimed, and redeemed; never throw out anyone. Remember, if you ever need a helping hand, you will find one at the end of each of your arms. As you grow older, you will discover that you have two hands; one for helping yourself, and the other for helping others.
Audrey Hepburn
amerikanische Schauspielerin (1929-1993), Zitateheft 2005

Moral Values
Without commonly shared and widely entrenched moral values and obligations, neither the law, nor democratic government, nor even the market economy will function properly.
Václav Havel
Präsident der Tschechischen Republik 1993-2003 (*1936)

One Solitary Life
He was born in an obscure village, the child of a peasant woman. He grew up in still another village, where he worked in a carpenter shop until he was thirty. Then for three years he was an itinerant preacher. He never wrote a book. He never held an office. He never had a family or owned a house. He didn't go to college. He never visited a big city. He never travelled two hundred miles from the place where he was born. He did none of the things one usually associates with greatness. He had no credentials but himself. He was only thirty-three when the tide of public opinion turned against him. His friends ran away. He was turned over to the enemies and went through the mockery of a trial. He was nailed on a cross between two thieves. While he was dying, his executioners gambled for his clothing, the only property he had on earth. When he was dead, he was laid in a borrowed grave through the pity of a friend. Nineteen centuries have come and gone, and today he is the central figure of the human race and the leader of mankind's progress. All the armies that ever marched, all the navies that ever sailed, all the parliaments that ever sat, all the kings that ever reigned, put together, have not affected the life of man on this earth as much as that One Solitary Life.
unbekannt
Eine Bearbeitung der Schriften von Dr. James Allan Francis, amerikanischer Pastor und Autor (1864-1928), Zitateheft 2006

Our deepest fear
Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that frightens us most. We ask ourselves: who am I to be brilliant, gorgeous, talented and fabulous? Actually, who are you not to be? You are a child of God. Your playing small doesn't save the world. There is nothing enlightened about shrinking so that other people won't feel insecure around you. We were born to make manifest the glory of God within us. It is not just in some of us: It's in everyone. And, as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.
Marianne Williamson
amerikanische Autorin und Dozentin. Das Zitat wird oft fälschlicherweise Nelson Mandela in seiner Antrittsrede 1994 zugeschrieben, siehe dazu: http://www.anc.org.za/ancdocs/history/mandela/1994/inaugpta.html

Philantrophy
Philanthropy, while meritorious, on a large scale becomes a political act: the tycoon who extracts a fortune from the public to build a museum in one place rather than another has not created new beauty, only imposed his priorities on society.
John Train
Amerikanischer Autor und Investor (*1928)

Freedom of the press
Were it left to me to decide whether we should have government without newspapers, or newspapers without government, I should not hesitate a moment to prefer the latter.
Thomas Jefferson
3. amerikanischer Präsident von 1801-1809 und Vertreter der amerikanischen Aufklärung (1743-1826)

Three rules of work
1. Out of clutter find simplicity. 2. From discord, find harmony. 3. In the middle of difficulty lies opportunity.
unbekannt
werden oft fälschlicherweise Albert Einstein zugeschrieben ("The new quotable Einstein")

Store profits
Don't store your profits here on earth, they can erode away or be stolen. Store them in heaven where they will never lose their value, and are safe from thieves! If your profits are in heaven your heart will be there too.
Matthäus 6,19-21
Zitateheft 2006

Public finances
Of all the enemies to public liberty war is, perhaps, the most to be dreaded, because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies and debts and taxes are the known instruments for bringing the many under the domination of the few. In war, too, the discretionary power of the Executive is extended; its influence in dealing out offices, honours, and emoluments is multiplied; and all the means of seducing the minds, are added to those of subduing the force, of the people … (There is also an) inequality of fortunes, and the opportunities of fraud, growing out of a state of war, and … degeneracy of manners and of morals … No nation could preserve its freedom in the midst of continual warfare.
Marcus Tullius Cicero
römischer Politiker (106-43 vor Christus), Verteidiger der demokratischen Republik und Gegener des allumfassenden Kaiserreichs 63 vor Christus, Zitatebuch 2003

Donate
What I discovered is that you've got to put in the same amount of work, and exercise the same degree of judgement, in giving money away as you do in making it.
William H. (Bill) Gates
amerikanischer Software-Unternehmer (*1955), Zitateheft 2004

Anyway
People are unreasonable, illogical and self-centered, LOVE THEM ANYWAY If you do good, people will accuse you of selfish, ulterior motives, DO GOOD ANYWAY If you are successful, you win false friends and true enemies, SUCCEED ANYWAY The good you do today will be forgotten tomorrow, DO GOOD ANYWAY Honesty and frankness make you vulnerable, BE HONEST AND FRANK ANYWAY What you spent years building may be destroyed overnight, BUILD ANYWAY People who really need help but may attack you if you help them, HELP PEOPLE ANYWAY Give the world your best and you'll get kicked in the teeth, GIVE THE WORLD YOUR BEST ANYWAY. Original PARADOXICAL COMMANDMENTS 1. People are illogical, unreasonable, and self-centered. Love them anyway. 2. If you do good, people will accuse you of selfish ulterior motives. Do good anyway. 3. If you are successful, you win false friends and true enemies. Succeed anyway. 4. The good you do today will be forgotten tomorrow. Do good anyway. 5. Honesty and frankness make you vulnerable. Be honest and frank anyway. 6. The biggest men with the biggest ideas can be shot down by the smallest men with the smallest minds. Think big anyway. 7. People favor underdogs, but follow only top dogs. Fight for a few underdogs anyway. 8. What you spend years building may be destroyed overnight. Build anyway. 9. People really need help but may attack you if you do help them. Help people anyway. 10. Give the world the best you have and you'll get kicked in the teeth. Give the world the best you have anyway. Zusatz zu den "Paradoxical Commandments" bei "The Final Analysis": You see, in the final analysis, it is all between you and God; I was never between you and them anyway.
"Trotzdem" (Original: "Anyway") ist ein Text aus acht der zehn "Paradoxical Commandments" von Kent M. Keith (siehe unten) und wurde u.a. von Mutter Teresa in ihrer Arbeitsstätte in Kalkutta an die Wand gehängt
Zitatebuch 2002

The way families invest
"Compared with other institutional investors, 'families are more adventurous about where they invest their capital,' says a managing director at one advisory firm whith a large wealthy client base. 'They're quicker in their decision-making, and sometimes don't have hard and fast rules like pension funds do.'"
The Private Equity Analyst
Ausgabe März 2004, Zitateheft 2006

Ten cannots
1. You cannot bring about prosperity by discouraging thrift. 2. You cannot help small men by tearing down big men. 3. You cannot strengthen the weak by weakening the strong. 4. You cannot lift the wage earner by pulling down the wage payer. 5. You cannot help the poor man by destroying the rich. 6. You cannot keep out of trouble by spending more than your income. 7. You cannot further the brotherhood of man by inciting class hatred. 8. You cannot establish security on borrowed money. 9. You cannot build character and courage by taking away man's initiative and independence. 10. You cannot help men permanently by doing for them what they could and should do for themselves.
Reverend William J. H. Boetcker
Presbyterianischer Pastor (1873-1962), wird oft fälschlich Abraham Lincoln zugeschrieben, Zitateheft 2006

Winning margin
What are you doing your competitors aren't doing yet?
Philip A. Fisher
Growth-Investor und Mentor von Warren Buffett (1907-2004), Zitateheft 2007

Wise
When a wise man points to the moon, the fool looks at the finger.
chinesisches Sprichwort
Zitateheft 2007

Simplify
Everything should be made as simple as possible, but not simpler.
wird Albert Einstein zugeschrieben
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955), Zitateheft 2007

Listen
I never learned anything while I was talking.
Larry King
amerikanischer Journalist (*1933), eigentlich Lawrence Harvey Zeiger, Zitateheft 2007

Resist the commencements
First they came for the communists, and I did not speak out— because I was not a communist; Then they came for the socialists, and I did not speak out— because I was not a socialist; Then they came for the trade unionists, and I did not speak out— because I was not a trade unionist; Then they came for me— and there was no one left to speak out.
Martin Niemöller
deutscher Theologe und Widerstandskämpfer gegen den Nationalsozialismus (1892-1984), Zitateheft 2007

Role model
Don't worry that children never listen to you; worry that they are always watching you.
Robert Fulghum
amerikanischer Theologe und Autor (*1937), Zitateheft 2007

Vision
Where there is no vision, the people perish.
Sprüche 29,18
Zitateheft 2007

Faith
Commit to the LORD whatever you do, and your plans will succeed.
Sprüche 16,3
Zitateheft 2007

Do it
Most organizations spend all their time looking for the next new management concept rather than following up on what everyone just learned.
Dr. Ken Blanchard
amerikanischer Management-Experte und Autor (*1939), Zitateheft 2007

Dreams
What dreams would you have if you knew you could not fail?
Inschrift im Welcoming Center der Crystal Cathedral in Garden Grove, Kalifornien
Zitateheft 2007

Retirement
He who thinks that he has finished is finished. Those who think that they have arrived, have lost their way.
Henri J.M. Nouwen
Holländischer Theologe und Psychologe (1932-1996), Zitateheft 2007

Biblical watchword 2007
Behold! I am doing a new thing! Now it springs up; do you not perceive it?
Jesaja 43,19a
Zitateheft 2007

Networking
Always look for a neighbour before you look for a house.
unbekannt
Zitateheft 2007

Mutual Funds
There was only one place to make money in the mutual fund business – as there is only one place for a temperate man to be in a saloon, behind the bar and not in front of it… so I invested in a management company.
Paul A. Samuelson
Amerikanischer Wirtschaftswissenschaftler, Nobelpreis für Wirtschaft 1970 (*1915), Zitateheft 2007

Reputation
Worldly wisdom teaches us that it is better for reputation to fail conventionally than to succeed unconventionally.
John Maynard Keynes
britischer Nationalökonom (1883-1946), Zitateheft 2007

Investment strategy
Whenever you sell a stock, thinking it will go down, somebody else has to buy it, thinking it will go up. One of you is wrong – every time. That’s why you always have to think about, if and why you are on the right side of the trade. An that is why you have to start with a systematic search strategy and not with coincidence.
Bruce C. Greenwald
amerikanischer Professor für Finanzen und Asset-Management (*1946), Zitateheft 2007

Priorities
I am generous with my money and stingy with my time.
Nandan Nilekani
indischer Unternehmer, Vorstandsvorsitzender Infosys (*1955), Zitateheft 2007

Power of Managers
In the modern corporation the decisive power, that of the managers, is derived from no one but the managers themselves controlled by nobody and nothing and responsible to no one. It is in the most literal sense unfounded, unjustified, uncontrolled and irresponsible power.
Peter F. Drucker
amerikanischer Management-Denker österreichischer Herkunft (1909-2005), Zitateheft 2007

Leadership
Management is doing things right; leadership is doing the right things.
Peter F. Drucker
amerikanischer Management-Denker österreichischer Herkunft (*1909-2005), Zitateheft 2007

Concentration
It’s better to do a lot of work on one idea, than do some work on a lot of ideas.
Mike Onghai
amerikanischer Investor (*1970), Zitateheft 2007

Tough times
Tough times never last … but tough people do!
Dr. Robert H. Schuller
Reformierter Pfarrer (*1926), Zitateheft 2007

Winning
You never win alone. Once you start believing something different, you start loosing.
Mika Häkkinen
Finnischer Ex-Formel-1-Rennfahrer (*1968), Zitateheft 2007

WIN!
· Get in Front of Wealth. · Represent the Firm in Areas Where You Have Conviction. · Ask for the Business. · Know Your Customer. · Use the Firm’s Resources Wisely. · Don’t Procrastinate! · If You Don’t Know the Answer, Say So, Then Get It. · When in a Gray Area, See Your Manager. · Help Your Colleagues. · Contribute to the Firm & the Department. · Treat Your Assistant as a Partner. · Be Honest … With Yourself and With Your Customers. · Be Humble. · Be a Good Listener, Not Just a Good Talker. · Take a Long-term Perspective but Have Short-term Goals. · Don’t Be Afraid to Take a Loss. · Communicate with Your Customers … Through Thick and Thin. · Have a Well Thought-out Business Plan. · Always Prospect. · Don’t Fear Rejection; Be Prepared for It. · Don’t Open Small Accounts; Think Big! · Do It All … with Discipline, Enthusiasm and Persistence!
James W. Little
Bankier (Morgan Stanley), Zitateheft 2007

Community
In a knowledge economy, a good business is a community with a purpose, not a piece of property.
Charles Handy
irischer Autor und Management-Experte (*1932), Zitateheft 2007

Have everything
You can't have everything. Where would you put it?
Steven Wright
amerikanischer Komiker und Schauspieler (*1955), Zitateheft 2007

Evaluation
A fool often fails because he thinks what is difficult is easy, a wise man because he thinks what is easy is difficult
John Churton Collins
britischer Schriftsteller (1848-1908), Zitateheft 2007

The fruit of silence
The fruit of silence is prayer, the fruit of prayer is faith, the fruit of faith is love, the fruit of love is service, the fruit of service is peace.
Mutter Teresa
Indische Ordensgründerin albanischer Herkunft, Nobelpreisträgerin (1910-1997), Zitateheft 2007

Seven social sins
1. Wealth without work 2. Pleasure without conscience 3. Knowledge without character 4. Commerce without morality 5. Science without humanity 6. Worship without sacrifice 7. Politics without principle
Mahatma Gandhi
indischer Politiker (1869-1948), Zitateheft 2007

Faith
I tell you the truth, if you have faith as small as a mustard seed, you can say to this mountain, 'Move from here to there' and it will move. Nothing will be impossible for you.
Matthäus 17, 20-21
Zitateheft 2007

Selection
It is only occasionally that there is any reason for selling (carefully selected stocks) at all.
Philip A. Fisher
Growth-Investor und Mentor von Warren Buffett (1907-2004), Zitateheft 2007

Get up
Falling isn't failing unless you don't get back up.
Earl Nightingale
amerikanischer Verleger (1921-1989), Zitateheft 2007

Old or bold
There's a saying in the British Royal Air Force that investors need to remember: "There are old pilots, and there are bold pilots, but there are no old, bold pilots."
Sprichwort in der British Royal Air Force
Zitateheft 2007

Change
Do not conform any longer to the pattern of this world, but be transformed by the renewing of your mind.
Römer 12,2

Love
Love is a better teacher than duty.
Albert Einstein
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955)

Man of value
Try not to become a man of success but rather become a man of value.
Albert Einstein
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955), Zitateheft 2005

What counts
Not everything that counts can be counted, and not everything that can be counted counts.
wird Albert Einstein zugeschrieben
deutscher Physiker, Nobelpreis für Physik 1921 (1879-1955)

Listen
If you ask someone a question, wait for the answer.
Unternehmensphilosophie von Edward Valenti (*1948) und Barry Becher (*1941)
Amerikanische Infomercial-Pioniere (Ginku-Messer)

Competitive advantage
The only sustainable competitive advantage is the ability to learn faster than the competition.
Arie de Geus
niederländischer Autor, ehemaliger Direktor der Shell International Petroleum (*1930)

Whatever you do
Whatever you do, do wisely, and think of the consequences. Quidquid agis, prudenter agas et respice finem.
aus der "Gesta Romanorum"
Spätmittelalterliche Exempelsammlung, deutsch: "Die Taten der Römer"

Difficult business
I must say that a small investment company is one of the toughest things I ever attempted to do. There’s no business in this world that’s more difficult than backing bright young engineers and guys who think they’ve got a new product but aren’t good businessmen.
Royal Little
Gründer von Textron 1923, Vater der modernen Mischkonzerne (1896-1989)

Plans
Plans are often worthless, yet the planning process is priceless.
Dwight David Eisenhower
amerikanischer Präsident 1953-61 (1890-1969)

Success
My material success was not to be attributed to what I have known or done myself, but to the faculty knowing and choosing others who did know better than myself. Precious knowledge this for any man to posses. I did not understand (for example) steam machinery, but I tried to understand that much more complicated piece of mechanism - man.
Andrew Carnegie
amerikanischer Stahlunternehmer schottischer Herkunft (1835-1919), Zitatebuch 2003

Minimize Risk
The way to minimize risk is to think.
Charlie Munger
Vice Chairman von Berkshire Hathaway (*1924)

Best Wishes
May you have enough happiness to make you sweet, enough trials to make you strong, enough sorrow to keep you human, enough hope to make you happy.
unbekannt

Preparation
I will study, I will prepare, and my opportunity will come.
wird Abraham Lincoln zugeschrieben
amerikanischer Präsident 1861-65 (1809-1865)

Market-economy
Though my heart may be left of centre, I have always known that the only economic system that works is a market economy, in which everything belongs to someone - which means that someone is responsible for everything. It is a system in which complete independence and plurality of economic entities exist within a legal framework, and its workings are guided chiefly by the laws of the marketplace. This is the only natural economy, the only kind that makes sense, the only one that can lead to prosperity, because it is the only one that reflects the nature of life itself.
Vaclav Havel
Präsident der Tschechischen Republik 1993-2003 (*1936)

Ignorance
The voice of intelligence...is drowned out by the roar of fear. It is ignored by the voice of desire. It is contradicted by the voice of shame. It is biased by hate and extinguished by anger. Most of all it is silenced by ignorance.
Dr. Karl Augustus Menninger
amerikanischer Psychiater, Mitbegründer der Menninger-Klinik (1893-1990)

Enlightenment
There are only two ways to handle tense situations: you can change them, or you can change the way you look at them. There is enlightenment to be had in changing the way you look at things.
Paul Wilson
australischer Autor und Experte für Streßbewältigung (*1949)

Involvement
Tell me, and I will hear; show me, and I will remember; involve me, and I will care.
unbekannt

Risk
Only those who dare to fail greatly can ever achieve greatly.
Robert Francis "Bobby" Kennedy
amerikanischer Jurist und Senator (1925-1968)

Improvement
Get good - or get out.
Peter F. Drucker
amerikanischer Management-Denker österreichischer Herkunft (*1909-2005)

Men and Books
Of all the inanimate objects, of all men's creations, books are the nearest to us, for they contain our very thoughts, our ambitions, our indignations, our illusions, our fidelity to truth, and our persistent leaning toward error. But most of all they resemble us their precarious hold on life.
Joseph Conrad
britisch-polnischer Schriftsteller (1857-1924), eigentlich Josef Teodor Nalecz Konrad Kerzeniowski

Secret of success
Be yourself.
Jack Welch
amerikanischer Manager, eigentlich John Francis Welch jr., Fortune 1999: Manager des Jahrhunderts (*1935)

Wealth
It is precisely the ability to foresee both the needs of others and the combinations of productive factors most adapted to satisfying those needs that constitutes another important source of wealth in modern society.
Papst Johannes Paul II.
Heiliger Vater 1978-2005, eigentlich Karol Wojtyla (1920-2005), aus "Centesimus Annus" 2001, Zitateheft 2006

Please God
To the man who pleases HIM, GOD gives wisdom, knowledge and happiness, but to the sinner HE gives the task of gathering and storing up wealth to hand it over to the one who pleases GOD.
Prediger 2, 26

Profit from advice
Many receive advice, only the wise profit from it.
Publilius Syrus
römischer Dichter (1. Jhd. vor Christus)

Wisdom and wealth
Wisdom outweighs any wealth.
Sophokles
griechischer Dichter (496 - 406/405 v. Chr.)

Being right
You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right.
Benjamin Graham
geboren als Benjamin Großbaum, deutsch-amerikanischer Investor und Begründer der systematischen Aktien-Analyse (1894-1976)

Men and women
A woman worries about the future until she gets a husband... A man never worries about the future until he gets a wife. A successful man is one who makes more money than his wife can spend... A successful woman is one who can find such a man. To be happy with a man, you must understand him a lot and love him a little... To be happy with a woman, you must love her a lot & not try to understand her at all. Any married man should forget his mistakes... there's no use in two people remembering the same thing. Men wake up as good-looking as they went to bed... Woman somehow deteriorate during the night. A woman marries a man expecting he will change, but doesn't... A man marries a woman expecting that she won't change and she does.

Expectations
High Expectations are the key to everything.
Sam Walton
Gründer der Walmart-Einzelhandelskette (1918-1992)

Respect
Respect people for who they are, not for what their titles are.
Herbert D. “Herb” Kelleher
Amerikanischer Unternehmer, Mitgründer von Southwest Airlines (*1931)

The proper ambition
The Reverend Fred Craddock, a remarkable preacher from Georgia, may have been imagining things –the way preachers are wont to do – but he says this story really happened. Dr. Craddock was visiting in the home of his niece. There was this old greyhound dog there, just like the ones who race around a track chasing those mechanical rabbits. His niece had taken the dog in to prevent it from being destroyed because its racing days were over. Dr. Craddock strikes up a conversation with the dog: “I said to the dog, are you still racing?” “No,” he replied. “Well, what was the matter? Did you get too old to race?” “No, I still had some race in me.” “Well, what then? Did you not win?” “I won over a million dollars for my owner.” “Well, what was it? Bad treatment?” “Oh, no,” the dog said, “They treated us royally when we were racing.” “Did you get crippled?” “No.” “Then why?” Craddock pressed, “Why?” The dog answered, “I quit.” “You quit?” “Yes,” he said, “I quit.” “Why did you quit?” “I just quit. Because after all that running and running and running, I found out that the rabbit I was chasing wasn’t even real.” On this day of celebration, achievement, and the commencement of a new phase in your lives, it takes considerable temerity for me to challenge you to consider what kind of rabbit you’ll choose to chase during your careers. I do so only because – this may surprise you – I challenge myself as to whether the rabbit I’ve been chasing all these long years is real.
John C. Bogle
amerikanischer Investment-Experte und Autor (*1929)

Difference
The difference between the almost right word and the right word is really a large matter--it's the difference between the lightning bug and the lightning.
Mark Twain
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910)

Each individual counts
Individual commitment to a group effort is what makes - a team work - a society work - civilisation work
Vince Lombardi
amerikanischer Football-Trainer (1913-1970)

Materialism
A man is incapable of comprehending any argument that interferes with his revenue.
unbekannt

Peer pressure
Anyone taken as an individual is tolerably sensible and reasonable – as a member of a crowd, he at once becomes a blockhead.
Friedrich Schiller
deutscher Schriftsteller 1759-1805

The bottom 10 percent
The cruelest system in the world is when they give people 3 percent to 4 percent increases to keep them even with inflation. They carry them along, don’t give them appraisals, don’t tell them what they are doing wrong, how they can improve and then, a recession comes. Then, they call them in and say, “Hey, you gotta go.” That is the cruellest form of management. We tell the bottom 10 percent, “Look. You’ve got a year. Find yourself somewhere to go.” And they do. They’ve got good credentials, they go out and they launch into a new career instead of always being tarred as the bottom 10. Don’t think of this as cruel. Think of telling people where they stand as one of your main obligations as a leader.
Jack Welch
Amerikanischer Manager, eigentlich John Francis Welch jr. (*1935)

Smart Leader
If you are a leader and you are the smartest guy in the room, you have got real problems.
Jack Welch
Amerikanischer Manager, eigentlich John Francis Welch jr. (*1935)

Opportunities
Wherever we look upon this earth, the opportunities take shape within the problems.
Nelson A. Rockefeller
amerikanischer Politiker und Philanthrop, US-Vizepräsident 1974-77 (1908-1997)

Overreaction
Markets always overreact.
unbekannt

Life
All life is problem solving.
Sir Karl Raimund Popper
englischer Philosoph und Soziologe österreichischer Herkunft (1902-1994)

Abilities
Nobody knows what's in him until he tries to pull it out.
Ernest Hemingway
amerikanischer Schriftsteller und Literaturnobelpreisträger 1954 (1899-1961)

Dislike
Since half the people are not going to like me anyway, they may as well not like me for the right reason.
Patrick Morley
ehemaliger BBC-Reporter

Motivation
No one rises to low expectations.
Les Brown
amerikanischer Motivationstrainer (*1945)

Factors for success
- The business can only be truly successful if it improves the life of people. - The richness of man is the work - not the money, which is only a tool to go through life. - Have clarity on what you do and make it readable to the outside.
Pietro Barilla
italienischer Lebensmittel-Unternehmer (1913-1993), Zitateheft 2006

Self-reliance
You have to do your own growing no matter how tall your grandfather was.
Abraham Lincoln
amerikanischer Präsident 1861-65 (1809-1865), Zitateheft 2006

Grateful
It is not happiness that makes you grateful, but gratefulness that makes you happy.
Brother David Steindl-Rast
Amerikanischer Benediktinermönch österreichischer Herkunft (*1926), www.gratefulness.org, www.dankbarkeit.org, Zitateheft 2006

Quality
Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else consitutes quality.
Peter F. Drucker
amerikanischer Management-Denker österreichischer Herkunft (*1909-2005), Zitateheft 2005

Charity
All of the good in the world is not done by foundation donations. Much more good is done via ordinary business operations of the corporations in which they invest.
Charlie Munger
Vice Chairman von Berkshire Hathaway, Zitatebuch 2002

Need and greed
Earth provides enough to satisfy every man's need, but not every man's greed.
Mahatma Gandhi
indischer Politiker (1869-1948), Zitateheft 2005

Learning
You cannot teach a man anything; you can only help him to discover it in himself.
Galileo Galilei
italienischer Astronom und Physiker (1564-1642), Zitateheft 2005

Money
A business that makes nothing but money is a poor kind of business.
Henry Ford
amerikanischer Ingenieur und Unternehmer (1863-1947), Zitateheft 2005

Make decisions
It's not hard to make decisions when you know what your values are.
Roy E. Disney
amerikanischer Film-Produzent, Neffe von Walt Disney (*1930), Zitateheft 2005

Diskussion
Don't take the wrong side of an argument just because your opponent has taken the right side.
Baltasar Gracián y Morales
spanischer Philosoph und Schriftsteller (1601-1658), Zitateheft 2005

Reputation
The reputation of a thousand years may be determined by the conduct of one hour.
japanisches Sprichwort

Discussions
Great minds discuss ideas. Average minds discuss events. Small minds discuss people.
Eleanor Roosevelt
sozial sehr engagierte amerikanische Präsidentengattin (1884-1962), Zitateheft 2005

Income statement
A firm's income statement may be likened to a bikini - what it reveals is interesting, but what it conceals is vital.
Burton G. Malkiel
Professor für Wirtschaft an der Princeton Universtät (*1932), Zitateheft 2005

Personal Leadership
Personal Leadership is the process of keeping your vision and values before you and aligning your life to be congruent with them.
Dr. Stephen R. Covey
amerikanischer Autor und Management-Berater (*1932)

Respect
Treating people with respect will gain one wide acceptance and improve the business.
Tao Zhu Gong
Berater des Kaisers von Yue (500 vor Christus), zweites Wirtschaftsprinzip

Commitment
When you cease to make a contribution, you begin to die.
Eleanor Roosevelt
sozial sehr engagierte amerikanische Präsidentengattin (1884-1962), Zitateheft 2005

Experience
All experience is an arch to build upon.
Henry Brooks Adams
amerikanischer Historiker (1838-1918)

Character
Reputation is what others think of us; character is what God and the angels know of us.
Thomas Paine
die "Stimme der amerikanischen Revolution", Unabhängigkeitskämpfer und Menschenrechtler (1737-1809), Zitateheft 2005

Upbringing
Before I got married I had six theories about bringing up children; now I have six children and no theories.
John Wilmot
Earl of Rochester, englischer Satiriker (1647-1680)

Creation of capital
Capital must be propelled by self-interest; it cannot be enticed by benevolence.
Walter Bagehot
englischer Ökonom und Autor (1826-1877)

Law Suits
Law suits always undervalue companies.
unbekannt

Authentic leadership
When you teach you cannot cheat.
unbekannt

Opportunites
Small opportunities are often the beginning of great enterprises.
Demosthenes
Griechischer Redner (384-322 v. Chr.)

Long-time-perfomance
We focus not on the performance of our stocks on the short run but on the performance of our business.
unbekannt

Expert
If you wish to know the road up the mountain, ask the man who goes back and forth on it.
aus dem Zenrin Kushu
Sammlung von Zen-Zitaten aus dem 15. Jahrhundert

Children
Children's games should be seen as their most serious-minded activity.
Michel de Montaigne
französicher Schriftsteller und Philosoph (1533-1592)

Growth needs thinking
To grow you must innovate, to innovate you must think.
Unternehmensmotto der italienischen Firma Socotherm

Objectives
I never did anything worth doing by accident, nor did any of my inventions come by accident.
Thomas Alva Edison
amerikanischer Erfinder (1847-1931)

Wait a while
There is an old adage in investment lore that says, "Buy when blood is in the streets." Actually, it is sometimes best to wait a while. An investor did not have to buy during the riots in the streets of Watts; a year later was time enough to catch the lowest prices and make a fortune.
James "Jim" Rogers
amerikanischer Star-Investor (*1942)

Humility
Success breeds complacency and arrogance.
unbekannt

Let go
Creativity requires the courage to let go of certainties.
wird Erich Fromm zugeschrieben
amerikanischer Psychoanalytiker und Philosoph deutscher Herkunft (1900-1980)

Venture Capital
We back jockeys, not horses.
Motto von Wagnisfinanzierern
Zitateheft 2005

Salvation
For what profit is it to a man if he gains the whole world, and lose his own soul? Or what will a man give in exchange for his soul?
Matthäus 16, 26
Zitateheft 2005

Justice
When we get what we deserve, that is justice. When we don't get what we deserve, that is mercy. When we get what we don't deserve, that is grace.
Sprichwort
Zitateheft 2005

Imprinting
Values are like fingerprints. Nobody's are the same, but you leave 'em all over everything you do.
Elvis Presley
amerikanischer Sänger (1935-1977), Zitateheft 2004

Donors motivation
It gives me a good feeling.
Walter Annenberg
amerikanischer Philanthrop, der Gemälde im Wert von 1 Milliarde US-Dollar an das New York's Metropolitan Museum gespendet hat über seine Spendermotivation (*1908), Zitateheft 2004

Focus
Focus on waht you can do not on what you cannot do
Motto einer behinderten Rollstuhl-Basketballspielerin und Paraolympics-Teilnehmerin
Zitateheft 2004

Consequences
Because Ideas have consequences
Spruch der Hillsdale Academy
Die Hillsdale Academy ist eine amerikanische Schule in Michigan, die durch ihre bewußt traditionellen Werte Modellcharakter hat. Zitatebuch 2003

Precognition
Go where the puck is going to be, not where you see it.
Lowell "Bud" Paxson
Begründer des Home Shopping Fernsehens, der TV-Senderkette Pax Net und des gemeinnützigen "Worship TV", Zitatebuch 2003

Crocodiles
Don't think there are no crocodiles because the waters are calm.
malaysisches Sprichwort
Zitatebuch 2003

Customers
If I’d listened to my consumers, I’d have given them a faster horse.
Henry Ford
amerikanischer Ingenieur und Unternehmer (1863-1947), Zitateheft 2004

Self-realisation
Be the person you always wanted to be!
unbekannt
Zitatebuch 2002

Dream
If you can dream it, you can do it!
Walt Disney
amerikanischer Zeichner und Filmproduzent (1901-1966), Zitatebuch 2002

Errors
More is learned from one's errors than from one's successes.
Primo Levi
italienischer Schriftsteller (1919-1987), Zitatebuch 2002

Property
You never know the true value of a property until you have cashed the check from the sale.
Claude N. Rosenberg, Jr.
aus "Investing with the best", Zitatebuch 2002

Mesurement
What gets measured gets done.
Management-Weisheit
Zitatebuch 2002

Honesty
I think you'll make more money in the end with good ethics than bad.
Charlie Munger
Vice Chairman Berkshire Hathaway, Milliardär, in "Harvard Law Bulletin", Sommer 2001, Zitatebuch 2002

Knowledge
Investment in knowledge pays the best interest.
Benjamin Franklin
amerikanischer Politiker, Schriftsteller und Naturwissenschaftler (1706-1790), Zitatebuch 2002

Creative Thinking
To cease to think creatively is but little different from ceasing to live.
Benjamin Franklin
amerikanischer Politiker, Schriftsteller und Naturwissenschaftler (1706-1790)

People
You can find out more about someone in an hours play than during a year of discussing.
Platon
griechischer Philisoph (etwa 428-348 vor Christus), Zitatebuch 2002

Seeds of time
If you can look into the seeds of time and say which grain will grow and which not, speak then to me...
William Shakespeare
englischer Schriftsteller (1564-1616), Macbeth 1. Akt, 3./4. Szene "Banquo"

Water
We never know the worth of water 'til the well is dry.
Sprichwort
Zitateheft 2005

Myth as the enemy of truth
For the great enemy of truth is very often not the lie - deliberate, contrived and dishonest - but the myth - persistent, persuasive and unrealistic. Too often we hold fast to the cliches of our forebears. We subject all facts to a prefabricated set of interpretations. We enjoy the comfort of opinions without the discomfort of thougt.
John F. Kennedy
amerikanischer Präsident von 1961-63 (1917-1963) in einer Rede an der Universität Yale am 11. Juni 1962, Zitateheft 2005

Trust
Everything happens for the best.
Prentice Ettinger
Buchtitel der Lebenserinnerungen des Loseblattwerk-Erfinders Prentice Ettinger, Gründer des US-Verlags Prentice Hall, Zitatebuch 2002

Trust
What would you attempt to do if you knew you could not fail?
Dr. Robert H. Schuller
reformierter Pfarrer (*1926), Zitatebuch 2002

Hope
Every child has its own statistic: Wise medical doctors answer to the question of worried parents what survivial chance percentage their child would have: The child is well and alive today.
gehört auf der Ira W. Sohn Conference for Tomorrows Childrens Fund
Zitateheft 2005

Scilled investment
The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.
John Maynard Keynes
britischer Nationalökonom (1883-1946)

National debt
Blessed are the young, for they shall inherit the national debt.
Herbert Hoover
amerikanischer Präsident von 1929-1933 (1874-1964), Zitateheft 2005

Value
Things only have the value that we give them.
Molière
französischer Schauspieler und Dramatiker, eigentlich Jean Baptiste Poquelin (1622-1673)

Action
There are risks and costs to a program of action, but they are far less than the long-range risks and costs of comfortable inaction.
John F. Kennedy
amerikanischer Präsident 1961-63 (1917-1963), Zitateheft 2005

Knowledge
Knowledge is of no value unless you put it into practice.
Sprichwort

Quotation
Have you ever observed that we pay much more attention to a wise passage when it is quoted than when we read it in the original auther?
Philip G. Hermaton
englischer Schriftsteller, Zitateheft 2004

Principles
A people that values its privileges above its principles soon loses both.
Dwight David Eisenhower
amerikanischer Präsident 1953-61 (1890-1969), Zitateheft 2005

Value of life
The value of life ist not in the length of days, but in the use we make of them; a man may live long yet very little.
Michel de Montaigne
französicher Schriftsteller und Philosoph (1533-1592)

Aims
It is important that an aim never be defined in terms of activity or methods. It must always relate directly to how life is better for everyone. ... The aim of the system must be clear to everyone in the system. The aim must include plans for the future. The aim is a value judgement.
Professor Dr. William Edwards Deming
Begründer des Total-Quality-Management TQM (1900-1993)

Planning
It's not the plan that is important, it is the planning.
Dr. Graeme Edwards
Zitateheft 2004

Hope
Hope is not the conviction that something will turn out well, but the certainty that something makes sense, regardless of how it turns out.
unbekannt

Integrity
Does the company have a management of unquestionable integrity?
Philip A. Fisher
Growth-Investor und Mentor von Warren Buffett (1907-2004)

Attitude of managers
As partial owners of a dozen plus companies we are by necessity absentee owners. Consequently, our first and overriding task in evaluating an investment is to determine whether management would work for us. Would they do what an owner with a long-term view would do with their knowledge of the business?
Arthur D. Clarke
Investment Advisor (*1942), Zitateheft 2005

Trust
Comradeship and trust will emerge naturally when discipline and high standards are enforced.
Tao Zhu Gong
Berater des Kaisers von Yue (500 vor Christus), elftes Wirtschaftsprinzip

Trust
In God we trust, all others bring data.
Professor Dr. William Edwards Deming
Gründer der "Total Quality"-Bewegung (1900-1993), Zitateheft 2005

Trust
We are not afraid to entrust the American people with unpleasant facts, foreign ideas, alien philosophies, and competitive values. For a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people.
John F. Kennedy
amerikanischer Präsident 1961-63 (1917-1963), Zitateheft 2005

Negotiation
Negotiation is not a sign of weakness but of confidence.
Professor Roger Fisher
Autor und Professor an der Harvard Law School (*1922)

Committees
Committees should be small and in odd numbers, preferably below three.
unbekannt

Experience of Life
A woman was strolling along a street in Paris when she spotted Picasso sketching at a sidewalk cafe. The woman went over and asked Picasso if he could sketch her, and charge her accordingly. Picasso obliged. In just minutes, there she was: an original Picasso. "And what do I owe you?" she asked. "Five thousand francs" he answered. "But it only took you three minutes", she exclaimed. "No", Picasso said. "It took all my life."
Pablo Picasso
spanischer Künstler (1881-1973), Zitateheft 2004

Examen of Consciousness
1. God, I believe that at this moment I am in your presence and you are loving me. 2. God, you know my needs better than I know them. Give me your light and help as I review this day. 3. God, help me now to review the events of this day in order to recognize your blessings and my shortcomings. 4. God, I ask your forgiveness for my failings and I thank you for all your blessings. 5. As I look forward to the remainder of this day (or tomorrow) make me aware that you are with me, show me how to become the person you want me to be.
nach Ignatius von Loyola
baskischer Mönch, Gründer des Jesuiten-Ordens (1491-1556), Zitateheft 2005

Love
Love never fails.
1. Korinther 13,8

Assertiveness
Agreeable in manner, strong in substance. Fortiter in re, suaviter in modo!
Claudius Aquaviva
Jesuitengeneral (1543-1615), Venedig, Zitatebuch 2002

To live means to fight
Vivere militare est.
Lucius Annaeus Seneca
römischer Philosoph (4 v. Chr.-65 n. Chr.)

Wilberforce and manners
The almighty LORD set two targets for me: the abolishment of slavery and the reformation of manners.
William Wilberforce
britischer Parlamentsabgeordneter und Philanthrop, der wesentlich zur Abschaffung der Sklaverei beitrug (1759-1833)

Longterm investments
Enduring wealth comes from owning great companies for a long time.
Unternehmens-Motto von Jensen Investment Management
amerikanisches Asset-Management Unternehmen

Obedient stockholders
The typical American stockholder is the most docile and apathetic animal in captivity. He does what the board of directors tell him to do and never thinks of asserting his individual rights as owner of the business and employer of its paid officers.
Benjamin Graham
geboren als Benjamin Großbaum, deutsch-amerikanischer Investor und Begründer der systematischen Aktien-Analyse (1894-1976)

Salvation
Nothing that is worth doing can be achieved in our lifetime; therefore we must be saved by hope. Nothing which is true or beautiful or good makes complete sense in any immediate context of history; therefore we must he saved by faith. Nothing we do, however virtuous, can be accomplished alone; therefore we are saved by love. No virtuous act is quite as virtuous from the standpoint of our friend or foe as it is from our standpoint. Therefore we must be saved by the final form of love which is forgiveness.
Reinhold Niebuhr
deutsch-amerikanischer Theologe (1892-1971)

Knowledge worker
The most important, and indeed the truly unique, contribution of management in the 20th century was the fifty-fold increase in the productivity of the manual worker in manufacturing. The most important contribution management needs to make in the 21st century is similarly to increase the productivity of knowledge work and the knowledge worker.
Peter F. Drucker
amerikanischer Management-Denker österreichischer Herkunft (*1909-2005), Zitateheft 2006

Will and achievement
It is God at work in you - giving you the will and the power to achieve His purpose.
Philipper 2,13
Zitateheft 2006

Forces
What a curious phenomenon it is that you can get men to die for the liberty of the world who will not make the little sacrifice that is needed to free themselves from their own individual bondage.
Bruce Barton
amerikanischer Autor und Werbefachmann (1886-1967), Zitateheft 2006

Secret of success
The secret of success in life is for a man to be ready for his opportunity when it comes.
Benjamin Disraeli
englischer Schriftsteller und Premierminister 1868 und 1874-80 (1804-1881)

Self-deception
The easiest person to fool is yourself.
Richard Phillips Feynman
amerikanischer Physiker (1918-1988)

Govern
It is impossible to rightly govern the world without God and the Bible.
George Washington
erster amerikanischer Präsident 1789-97 (1732-99), Zitateheft 2006

Trust in GOD
Commit thy way unto the LORD; trust also in him; and he shall bring it to pass.
Psalm 37,5
Zitateheft 2006

Expensive Social Assistance State
By intervening directly and depriving society of its responsibility, the Social Assistance State leads to a loss of human energies and an inordinate increase of public agencies, which are dominated more by bureaucratic ways of thinking than by concern for serving their clients, and which are accompanied by an enormous increase in spending.
Papst Johannes Paul II.
Heiliger Vater 1978-2005, eigentlich Karol Wojtyla (1920-2005), aus "Centesimus Annus" 2001

Entrepreneur
Being an entrepreneur means having a different view of the future.
Ludwig von Mises
österreichischer Ökonom (1881-1973), Zitateheft 2006

Action
Action speaks louder than words.
Sprichwort
Zitateheft 2006

Motivation
You cannot motivate the best people with money. Money is just a way to keep score. The best people in any field are motivated by passion.
Eric S. Raymond
Begründer der "Open Source" Bewegung (*1957), Zitateheft 2006

Do it
Drucker purified my mind. He would tell me after each session - don't tell me you had a wonderful meeting with me. Tell me what you are going to do on Monday that's different.
Donald R. Keough
Ex-Vorstandsvorsitzender von Coca-Cola (*1926) über Peter F. Drucker, amerikanischer Management-Denker österreichischer Herkunft (*1909-2005), Zitateheft 2006

New Ideas
The man with a new idea is a crank until the idea succeeds.
Mark Twain
amerikanischer Schriftsteller, eigentlich Samuel Langhorne Clemens (1835-1910), Zitateheft 2006

Creditworthiness
The first thing is character ... before money or property or anything else.
John Pierpont Morgan
amerikanischer Bankier (1837-1913), Zitateheft 2006

Learning
Anyone who stops learning is old, whether at twenty or eighty.
Henry Ford
Amerikanischer Ingenieur und Unternehmer (1863-1947), Zitateheft 2006

Aim high
Aim at Heaven and you will get ‚earth thrown in’. Aim at earth and you will get neither.
C. S. Lewis
britischer Autor und Professor für englische Literaturwissenschaften in Cambridge (1898-1963), Zitateheft 2006

Markets
Markets can remain irrational longer than you can remain solvent.
John Maynard Keynes
britischer Nationalökonom (1883-1946), Zitateheft 2006

Promise
I will not fail thee, nor forsake thee.
Josua 1,5
Zitateheft 2006

Delegate
If a manager wants to handle everything on his own, he mustn't be surprised at his staff retiring.
unbekannt
Zitateheft 2006

Profit
He profits most who serves best.
Arthur F. Sheldon
Präsident der „Sheldon School of Business Building“ (1868-1936), Zitateheft 2006

Friend and enemy
A wise man gets more use from his enemies than a fool from his friends.
Baltasar Gracián y Morales
spanischer Philosoph und Schriftsteller (1601-1658), Zitateheft 2006

Together
You can do things that I cannot do. I can do things that you cannot do. Together we can do great things.
Mutter Teresa
Indische Ordensgründerin albanischer Herkunft, Nobelpreisträgerin (1910-1997), Zitateheft 2006

Chains of habit
The chains of habit are too light to be felt until they're too heavy to be broken.
Bertrand Russell
britischer Philosoph und Mathematiker (1872-1970), Zitateheft 2006

Search for faults
Don't find a fault, find a remedy.
Henry Ford
amerikanischer Ingenieur und Unternehmer (1863-1947), Zitateheft 2006

Prayer for Generosity
Lord, teach me to be generous. Teach me to serve as you deserve; To give and not count the cost; To fight and not to heed the wounds; To toil and not to ask for rest; To labor and not ask for reward; Save that of knowing I am doing your will.
Ignatius von Loyola
baskischer Mönch, Gründer des Jesuiten-Ordens (1491-1556), Zitateheft 2006

Focus
If you chase two rabbits, both will escape.
Otto von Bismarck
deutscher Staatsmann (1815-1898), Zitateheft 2006

Staying power
One man has enthusiasm for 30 minutes, another for 30 days, but it is the man who has it for 30 years who makes a success out of his life.
Edward B. Butler
Amerikanischer Maler (1853-1928), Zitateheft 2006

Diversification
To carry one's eggs in a great number of baskets without having time or opportunity to discover how many have holes in the bottom is the surest way of increasing risk and losses.
John Maynard Keynes
britischer Nationalökonom und Investor (1883-1946), Zitateheft 2006

Buying Stocks
Buy stocks that are difficult to buy.
Faustregel erfahrener Investoren

Take the opportunity
The sad truth is that opportunity doesn't knock twice. You can put things off until tomorrow but tomorrow may never come.
Gloria Estefan
amerikanische Sängerin und Schauspielerin (*1957)

Starting minds
Mr. Drucker ist one of those writers to whom almost anything can be forgiven because he not only has a mind of his own, but has the gift of starting other minds along a stimulating line of thought.
Winston Churchill
britischer Premierminister 1940-45 und 1951-55 (1874-1965) über Peter F. Drucker (amerikanischer Management-Denker österreichischer Herkunft (*1909-2005)

Eternal
The things which are seen are temporal; but the things which are not seen are eternal.
2. Korinther 4, 18

Failing
Failing to plan is planning to fail.
Benjamin Franklin
amerikanischer Politiker, Schriftsteller und Naturwissenschaftler (1706-1790)

Dreams of the future
The future belongs to those who believe in the beauty of their dreams.
Eleanor Roosevelt
sozial sehr engagierte amerikanische Präsidentengattin (1884-1962), Zitateheft 2004

Success
If at first you do succeed, quit trying.
Motto von Berkshire Hathaway
aus den Essays von Warren Buffett, Amerikanischer Investor, Chairman von Berkshire Hathaway (*1930)

Long-term investments
Referring to 1913: Even in these earlier times, finding the really outstanding companies and staying with them through all the fluctuations of a gyrating market proved far more profitable to far more people than did the more colorful practice of trying to buy them cheap and sell them dear.
Philip A. Fisher
Growth-Investor und Mentor von Warren Buffett (1907-2004), Zitateheft 2005

Holding period
How long should you hold a stock? As long as the good things that attracted you to the company are still there.
Philip Carret
Gründer des Pioneer Fund (1896-1997), Zitateheft 2005

Long-term investments
More fortunes are made by sitting on good securities for years at a time than by active trading.
Philip Carret
Gründer des Pioneer Fund (1896-1997), Zitateheft 2005

Equity participation
I don't have sense enough to figure out when to go into cash, so we're always fully invested in stocks.
Philip Carret
Gründer des Pioneer Fund (1896-1997), Zitateheft 2005

Wrong objective
Don't chase performance - you will always be late.
Perry J. Kaufman
Investment-Experte und Autor (*1943)

Success through information
The most successful person is usually the one with the best information.
Benjamin Disraeli
englischer Schriftsteller und Premierminister 1868 und 1874-80 (1804-1881)

Friendship
Friendship is unnecessary, like philosophy, like art... it has no survival value; rather, it is one of those things that give value to survival.
C.S. Lewis
britischer Autor und Professor für englische Literaturwissenschaft in Cambridge (1898-1963)

Top-Performance
Top-Performance is only achieved by people who enjoy what they are doing.
unbekannt

Risk
A ship in the harbour is safe... But that's not what the ships were made for.
unbekannt
Zitatebuch 2002

Definition
Of all ways of defining man, the worst is the one which makes him out to be a rational animal.
Anatole France
eigentl. Jacques Anatole François Thibault, französischer Dichter (1844-1924), Zitatebuch 2003

People are possibilities
Love sees people - not as problems, better as possibilities.
Dr. Robert H. Schuller
Reformierter Pfarrer (*1926)

Question mark
The question mark is more powerful than the exclamation point.
Dale Carnegie
amerikanischer Autor und Persönlichkeitstrainer, eigentlich Dale Carnagey (1888-1955)

Improvement
When was the last time, you were looking for a better solution?
unbekannt

Cheated
Better to be occasionally cheated than perpetually suspicious.
Bertie Charles Forbes
amerikanischer Journalist und Verleger (1880-1954), Zitatebuch 2002

To Whom Belongs The Future?
The future belongs to those who see possibilities before they become obvious.
Theodore Levitt

Forgiveness
The weak can never forgive. Forgiveness is the attribute of the strong.
Mahatma Gandhi
indischer Politiker (1869-1948), Zitateheft 2004

Forgiveness
Forgive someone and set a person free and you will discover, that this person is you.
unbekannt
Zitateheft 2004

Contentment
Never complain, never explain.
Lebens-Philosophie des englischen Adels
Zitateheft 2004

Statistics
He uses statistics as a drunken man uses lamp posts – for support rather than illumination.
Andrew Lang
Scottish Writer (1844-1912)

Seeking the truth
In seeking truth you have to get both sides of a story.
Walter Cronkite
amerikanischer Journalist (*1916)

Wisdom
Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information?
Thomas Stearns Eliot
englisch-amerikanischer Schriftsteller (1888-1965)