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Only when the tide goes out do you discover who's been swimming naked.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Funny
Investors
Business
Swimming
Entrepreneur
Naked
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More quotes by Warren Buffett

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Ignore the stock market, ignore the economy, and buy a business you understand.
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Investment ideas, like women are often more exciting than punctual.
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We intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.
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What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important knowing its boundaries, however, is vital.
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Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.
Warren Buffett
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Take Wrigley's Chewing Gum. I don't think the Internet is going to change how people chew gum.
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Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.
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It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.
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It is more important to say no to an opportunity, than to say yes.
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I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old.
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You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress.
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I mean, Hank Paulson is in there [ Treasury] at the wrong time, probably shouldn't have taken the job. He's a friend of mine. But he knows markets, he knows corporations' work, he knows money, and he's got the interests of the country at heart.
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Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.
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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.
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Too often, a vast collection of possessions ends up possessing its owner.
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I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent.
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The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.
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It is better to point out your own mistakes than have somebody else do it.
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An ounce of prevention is worth a pound of cure understated.
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That which is not worth doing at all is not worth doing well.
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