In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed … - Warren Buffett

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And when I saw him[my father] lying dead in a pool of his own blood, I knew then that I hadn't stopped believing in God. I'd just stopped believing God cared. There might be a God, Clary, and there might be not. Either way, we're on our own.

Warren Buffett

In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.

Accounting, Alchemist, Golden, Men, Transformed, Usually

Same Author Quotes

If you don't find a way to make money while you sleep, you will work until you die.

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The best investment you can make, is an investment in yourself. . . The more you learn, the more you'll earn.

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Look for 3 things in a person. Intelligence, Energy, & Integrity. If they don't have the last one, don't even bother with the first two.

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If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.

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To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.

Decision, Discipline, Emotional, Invest, Unusual