Quote

Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Devoted
Chronically
Productive
Leaking
Boat
Vessels
Likely
Buffets
Changing
Leaks
Energy
Vessel
Business
Profitable
Find
Productivity
Patching

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The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we invest in stocks, we invest in businesses.
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If you hit a hole in one every hole, you wouldn’t play golf for very long.
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I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.
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Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.
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I lose confidence in other people, all kinds of institutions.
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The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.
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In the search [of a deal], we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.
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Someone's sitting in the shade today because someone planted a tree a long time ago. The person sitting in the shade now should be grateful for the person who planted and tended that tree. That includes all those benefactors of humanity throughout history that created, invented, financed, produced, maintained and improved all that we enjoy today.
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Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.
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I find that the standard of living does not go up in proportion with the cost of living. The trick in life is to do things that are fun all the time.
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When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.
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When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.
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We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20 trillion, I should say, worth of residential homes.
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In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen. I think that things were clear during the bubble as to what would happen eventually.
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I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.
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The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
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Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices
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Never risk what you have and need for what we don't have and don't need.
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We don't read other people's opinions. We want to get the facts, and then think.
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