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Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
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Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett

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The good thing is, we have household formation in this country.
Warren Buffett
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Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
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Making money isn't the backbone of our guiding purpose making money is the by-product of our guiding purpose. If you're doing something you love, you're more likely to put your all into it, and that generally equates to making money
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Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life.
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It will be good for us in the long run, and I mean there are, you know, six and a half billion people in this world. And it's great for 300 million to keep enjoying more and more property, but I think it's terrific if, you know, the remainder do.
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Never test the depth of river with both the feet.
Warren Buffett
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The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
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If we start deciding, based on guesses or emotions, whether we will or won't participate in a business where we should have some long run edge, we're in trouble.
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I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
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Wall Street makes its money on activity. You make your money on inactivity.
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My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.
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You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.
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If I taught a class, on my final exam I would take an Internet company and ask, 'How much is this company worth?' Anyone who would answer, I would flunk.
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it's a good idea to review past mistakes before committing new ones.
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You are neither right nor wrong because the crowd disagrees with you.
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I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.
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I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life.
Warren Buffett
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I know the country works extremely well. You know, but when it isn't clogged up.
Warren Buffett
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That's the reality of what they're going to sell them to the Treasury for.
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Occasionally, a man must rise above principles.
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