Asset Acquisition Quotes

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.

Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.

Rule One. You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound absurdly simple, but most people have no idea how profound this rule is. Most people struggle financially because they do not know the difference between an asset and a liability.

I ended up buying a restaurant. Already we had invested in a gas station and a metal products plant.

In life, you need a house and a car. After that, you have a choice.

We want to appeal to everyone and get rich quick. We want to be millionaires. I've got this plan to buy Tasmania you see.

People who want to make a million borrow a million first

Bargains are the holy grail of the true stockpicker. The fact that 10 to 30 percent of our net worth is lost in a market sell-off is of little consequence. We see the latest correction not as a disaster but as an opportunity to acquire more shares at low prices. This is how great fortunes are made over time.

When I was writing 'Kitchen Confidential,' I was in my 40s, I had never paid rent on time, I was 10 years behind on my taxes, I had never owned my own furniture or a car.

[Donald Trump] said, back in 2006, "Gee, I hope it does collapse, because then I can go in and buy some and make some money." Well, it did collapse.

I don't know if this sounds bad, but I am set. I don't spend my money. I don't buy cars or have an expensive drug habit. The only thing I've ever bought with the money I've made is my house.

I would rather be the man who bought the Brooklyn Bridge than the man who sold it.

I live a fairly simple life, and that didn't change much after I sold TechCrunch in 2010. I didn't buy a new house or even a new car. The one thing I did splurge on was a boat. Nothing too fancy or large.

Every time there's a dip in the market, we buy. If you don't buy the land right, it ain't going to work.

Even at 10 years old, Jonathan and I started saying things like, 'Hey, what about this for the property?' And I remember my parents saying, 'You're 10. What do you know about real estate? Go play with toys.'

Do not go out first thing after signing a contract and buy assets that are huge compared to the contract signed. Just because you have money for the first time doesn't mean you have to spend it before you know all the ramifications of buying the assets.

We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value.

There is only one way to go: up. I like to find cheap assets with problems. It gives me power.

Everybody starts with creating or acquiring certain property in order to create the material to work with. When we started our business, we thought first of all about development, how to grow, and we managed to do this, even with all the difficulties and all the difficult rules that were implemented in Russia at that time.

You should always use your Nobel prize money to buy property.

I can assure you that buying leases for x and selling them for 5x or 10x is a lot more profitable than trying to produce gas at $5 or $6 per million cubic feet.

To the extent societal rules or the wiring of your brains make it easy to acquire a lot of assets, then to the extent you can, you should try to improve the world.

Gain, acquired by many agents, soon accumulates.

Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy.

Some companies use off-balance-sheet partnerships to raise money or to buy assets without ever telling their shareholders in their financial statements.