We believe that part of the answer lies in pricing energy on the basis of its full costs to society. One reason we use energy so lavishly today is that the price of energy does not include all of the social costs of producing it. The costs incurred in protecting the environment and the health and safety of workers, for example, are part of the real costs of producing energy-but they are not now all included in the price of the product.
But you must remember, my fellow-citizens, that eternal vigilance by the people is the price of liberty, and that you must pay the price if you wish to secure the blessing.
To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.
Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism. In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals. Eliminating such restrictions would reduce at least some of the income inequality.
The sad truth is that it is precisely those who disagree most with the hypothesis of efficient market pricing of stocks, those who pooh-pooh beta analysis and all that, who are least able to understand the analysis needed to test that hypothesis.
We are convinced that the intelligent investor can derive satisfactory results from pricing of either type (market timing or fundamental analysis via price). We are equally sure that if he places his emphasis on timing, in the sense of forecasting, he will end up as a speculator and with a speculator's financial results." And "The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.
Connectivity doesn't just mean you get a lot more chances to deliver messages about customer service and pricing plans. This isn't one-sided. It enables people to talk back.
The disorganisers are those who want to level everything: property, comforts, the price of commodities, the various services rendered to the State... who want the workmen in the camp to receive the salary of the legislator... who want to level even talents, knowledge, the virtues, because they themselves have none of these things.
To be without health insurance in this country means to be without access to medical care. But health is not a luxury, nor should it be the sole possession of a privileged few. We are all created b'tzelem elohim - in the image of God - and this makes each human life as precious as the next. By 'pricing out' a portion of this country's population from health care coverage, we mock the image of God and destroy the vessels of God's work.
Quality is remembered long after price is forgotten.
Quality is free. It's not a gift, but it's free. The 'unquality' things are what cost money.
Where is the pricing system that offers the consumer a fair choice between air to breathe and motor cars to drive about in?
If you're not worried that you're pricing it too cheap, you're not pricing it cheap enough.
You can't flood the market with every TV show, every reality show, and dump your library into the market all at one time and not have some kind of game plan in terms of pricing.
Berkshire's whole record has been achieved without paying one ounce of attention to the efficient market theory in its hard form. And not one ounce of attention to the descendants of that idea, which came out of academic economics and went into corporate finance and morphed into such obscenities as the capital asset pricing model, which we also paid no attention to. I think you'd have to believe in the tooth fairy to believe that you could easily outperform the market by seven-percentage points per annum just by investing in high volatility stocks.
I don't think we can go back to the old days. But I think that what the government needs to do is it needs to make sure that the pricing is fair, that you don't have monopolies out there, so that people don't have a chance to compete fairly.
Examples of selling of ideas are portrayed in consulting or paid advice, as the pricing of intellectual property is market driven.
There is no perfect mathematical formula for pricing a business.
Right now, we continue to see demand at very strong levels. It's tough to find a Wii now. If we hit 100 stores in the area, we would find Wiis in only 20 percent of them today. That tremendous strength we had in December really wiped the pipeline clean. Our pipeline, the retailer pipeline. And so with that kind of demand, it doesn't suggest the need for any pricing actions.
The longer-term the option, the sillier the results generated by the Black-Scholes option pricing model, and the greater the opportunity for people who didn't use it.
or simply: