Warren Buffett Quotes
Rule No.1: Never lose money. Rule No.2: Never forget rule No.
Price is what you pay. Value is what you get.
The stock market is filled with individuals who know the price of everything, but the value of nothing.
Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.
Risk comes from not knowing what you’re doing.
The stock market is a device for transferring money from the impatient to the patient.
It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
The best investment you can make is in yourself.
In the business world, the rearview mirror is always clearer than the windshield.
Our favorite holding period is forever.
You only have to do a very few things right in your life so long as you don’t do too many things wrong.
The most important investment you can make is in yourself.
When you combine ignorance and leverage, you get some pretty interesting results.
I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
The stock market is designed to transfer money from the active to the patient.
It is not necessary to do extraordinary things to get extraordinary results.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Only when the tide goes out do you discover who’s been swimming naked.
It is better to be approximately right than precisely wrong.
Success in investing doesn’t correlate with IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.
The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.
It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you’ll drift in that direction.
The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
Reading is essential for those who seek to rise above the ordinary.
It’s better to be roughly right than precisely wrong.
I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.
If a business does well, the stock eventually follows.
If past history was all that is needed to play the game of money, the richest people would be librarians.
Someone’s sitting in the shade today because someone planted a tree a long time ago.
You want to be greedy when others are fearful. You want to be fearful when others are greedy. It’s that simple.
The difference between successful people and really successful people is that really successful people say no to almost everything.
The investor of today does not profit from yesterday’s growth.
The most important quality for an investor is temperament, not intellect.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
The best thing I did was to choose the right heroes.
I don’t look to jump over 7-foot bars; I look around for 1-foot bars that I can step over.
You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.
The only time I ever lost money in the market was when I sold too soon.
The big question about how people behave is whether they’ve got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.
You never know who’s swimming naked until the tide goes out.
You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more.
I am a better investor because I am a businessman, and a better businessman because I am an investor.
The most important thing to do if you find yourself in a hole is to stop digging.
If you’re in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%.
Chains of habit are too light to be felt until they are too heavy to be broken.
You never know who’s swimming naked until the tide goes out.
There seems to be some perverse human characteristic that likes to make easy things difficult.
If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes.