Warren Buffett quotes page 2
The business schools reward difficult, complex behavior more than simple behavior, but
simple behavior is more effective.
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.
Never count on making a good sale. Have the purchase price be so attractive that even a
mediocre sale gives good results.
Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that,
you'll do things differently.
Our favorite holding period is forever.
If past history was all there was to the game, the richest people would be librarians.
There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause
us to stay up at night. It just means we go on to the next one, and that’s what the individual
investor should do.
Always look at how much the other guy is making when he is trying to sell you something.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful
Your premium brand had better be delivering something special, or it's not going to get the
We simply attempt to be fearful when others are greedy and to be greedy only when others
Some material things make my life more enjoyable; many, however, would not. I like having
an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a
vast collection of possessions ends up possessing its owner. The asset I most value, aside
from health, is interesting, diverse, and long-standing friends.
Generally speaking, investing in yourself is the best thing you can do. Anything that improves
your own talents. Nobody can take that away from you.
I don't look to jump over 7-foot bars; I look around for 1-foot bars that I can step over.
If a business does well, the stock eventually follows.
I've made plenty of mistakes in the United States in the last 60 years in looking at businesses.
And sometimes I've misread the future about those businesses. And when I misread the future,
we're gonna lose money. And that's happened to me various times and it'll happen to me again
in the future.
So that - that's the big danger in any investment is that you look at the company now and
you get surprised about how the future of that company develops. I've made an investment
15 years ago in a shoe company in the United States. It went to zero. That was my mistake
and that will happen to me again. I hope it doesn't happen too often. But that exists no
matter where I make the investment. I try to analyze as carefully as I can; the competitive
position of the business, the durability of what they do, the quality of the management, all
that, and sometimes I make mistakes. If I make 20 investments I'm gonna make a couple of
mistakes. They may be in the United States, they may be in India, who knows.
In the business world, the rear view mirror is always clearer than the windshield.
Only buy something that you'd be perfectly happy to hold if the market shut down for 10
If you're in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think
about the other 99 per cent.
I try to buy stock in businesses that are so wonderful that an idiot can run them. Because
sooner or later, one will.
You never wanna owe moey you can't pay. I'm basically against debt. I think the average
individual will live a lot happier in life if they avoid... they surely ought to avoid credit card
debt. There's no reason in the world to pay 18% for my... I can't make money paying 18% for
The investor of today does not profit from yesterday's growth.
Look at market fluctuations as your friend rather than your enemy; profit from folly rather
than participate in it.