Warren Buffett: Commodities Bet

Warren Buffett Money Quote saying that commodities require an increase in value over time to be profitable, whereas other investments produce ongoing income. Warren Buffett said:
 

 

“The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn’t going to do anything for you… it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time” — Warren Buffett

 
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Warren Buffett: Commodity Smart

Warren Buffett Money Quote saying that commodities don’t require much intelligence. Warren Buffett said:
 

 

“In a commodity business, it’s very hard to be smarter than your dumbest competitor” — Warren Buffett

 
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Robert Crumb: Commodity Culture

Robert Crumb Money Quote saying business and generating income makes every object something to be purchased. Robert Crumb said:
 

 

“I hate business, having to deal with money. Money is one of the most hateful inventions of the human race. I hate the commodity culture, in which everything is bought and sold” — Robert Crumb

 
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John D. Rockefeller: As Purchasable

John D. Rockefeller Money Quote saying it’s just as possible to find people with people skills as those with technical abilities. John D. Rockefeller said:
 

 

“The ability to deal with people is as purchasable a commodity as sugar or coffee. And I will pay more for that ability.” — John D. Rockefeller

 
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Leon Trotsky: Understand Economic Process

Leon Trotsky Money Quote saying words and labels for economic processes are meaningless and not understood by most – and certainly not within their power to change or direct. Leon Trotsky said:
 

 

“Such categories as ‘commodity’, ‘money’, ‘wages’, ‘capital’, ‘profit’, ‘tax’, and the like are only semi-mystical reflections in men’s heads of the various aspects of a process of economy which they do not understand and which is not under their control” — Leon Trotsky

 
Birthday November 7, 1879
 
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Robert A. Heinlein: Commercial Financing Commodity

Robert A. Heinlein Money Quote saying banks could finance commercial loans by charging reasonable fees, but instead commoditize cash based on scarcity. Robert A. Heinlein said:
 

 

“Commercial financing could be done for a service charge plus an insurance fee amounting to much less that the rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state’s means of exchange” — Robert A. Heinlein

 
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