Warren Buffett says

“Can you imagine any public company embracing a business model that would lead to the decline in revenue that we experienced from 1986 through 1999?”

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“We will make bold rather than timid investment decisions where we see a sufficient probability of gaining market leadership advantages.”

“It’s not possible for investors to consistently outperform the market. Therefore you’re best served investing in a diversified portfolio of low-cost index funds [or exchange-traded funds].”

“Warren talks about these discounted cash flows. I’ve never seen him do one.”

“We trade real estate for technology (which gets cheaper and more capable every year).”