I think the multiples of technology stocks should be quite a bit lower than the multiples of stocks like Coke and Gillette, because we are subject to complete changes in the rules. I know very well that in the next ten years, if Microsoft is still a leader, we will have had to weather at least three crises.
This is the one Alexander Graham Bell gave me.
You won’t keep control of your time, unless you can say ‘no.’ You can’t let other people set your agenda in life.
But if you could buy dollar bills for 80 cents, it’s a very good thing to do.
Warren Buffett, talking on CNBC about what Apple should do with its cash.
Interesting that the advice he gave to Steve Jobs about the cash a few years back was to buy back some Apple stock. Jobs obviously didn’t do that. Now Apple has an insane amount of cash.
Or, in Buffett terms: “They may have too much cash.”
So let’s forget about the rich and ultrarich going on strike and stuffing their ample funds under their mattresses if — gasp — capital gains rates and ordinary income rates are increased. The ultrarich, including me, will forever pursue investment opportunities.