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When you combine ignorance and leverage, you get some pretty interesting results.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Combine
Profitable
Investing
Investment
Ignorance
Pretty
Results
Buffets
Interesting
Leverage

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Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
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I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject.
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I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.
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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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Basically, the single-most important decision in evaluating a business is pricing power.
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You pay a very high price in the stock market for a cheery consensus.
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When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.
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Nothing sedates rationality like large doses of effortless money.
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You know, with your money and my brains, I mean, there's no telling how far we'd go.
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If I eat 2,700 calories a day, a quarter of that is Coca-Cola.
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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
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I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.
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Banking is very good business if you don't do anything dumb.
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A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.
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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
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It's very important that the determination of the US Congress to do what is is needed be made evident this week and by the actions of most of the members. I mean, you're not going to get total assent.
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People always should know better. People don't get - they don't get smarter about things that get as basic as greed.
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Time is the friend of the wonderful company, the enemy of the mediocre.
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We're still in a recession. We're not gonna be out of it for a while, but we will get out.
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