Strive not to be a success, but rather to be of value.
The margin of safety is always dependent on the price paid.
Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
The exchangeable value of all commodities rises as the difficulties of their production increase.
Gold and silver, like other commodities, have an intrinsic value, which is not arbitrary.
Price is what you pay. Value is what you get.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.
Value innovation is the cornerstone of blue ocean strategy. It is called value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant.
Instead of focusing on beating the competition, focus on making the competition irrelevant by creating a leap in value for buyers and your company.
We don't have an internal value meter that tells us how much things are worth. Rather, we focus on the relative advantage of one thing over another.
Muda is specifically any human activity which absorbs resources but creates no value.
The critical starting point for lean thinking is value. Value can only be defined by the ultimate customer.
Most activities that we think of as value-creating are actually muda, and most of the rest are necessary to support the value-creating steps.
Every time we interact with another person at work, we have a choice to make: do we try to claim as much value as we can, or contribute value without worrying about what we receive in return?
Every successful business creates or provides something of value that other people want or need at a price they're willing to pay.
The best way to get what you want in life is to deserve what you want.
In the end, what matters is the increase in per share value, not the growth in overall revenues or earnings.
Almost everything is noise, and a very few things are exceptionally valuable.
A business model describes the rationale of how an organization creates, delivers, and captures value.
The stock market is filled with individuals who know the price of everything, but the value of nothing.
