Buffett: “What I like to do first is that I like the value a business before I look at its price”

“What I like to do first is that I like the value a business before I look at its price… If I look at the price of the stock it will have some impact on my valuation… I like to go in without the feintest idea of what the stock is selling for.”

“You can’t judge by outcome… You have to judge by probabilities going in”.