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Look at market fluctuations as your friend rather than your enemy profit from folly rather than participate in it.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
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Omaha
Nebraska
Warren Edward Buffett
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You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not stocks, and if the business does all right over the long term, so will the stock.
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Our marketable equities tell us by their operating results - not by their daily, or even yearly, price quotations - whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it.
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I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood in fact, if it occurswe will be selling life jackets to the unprepared.
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I always invest in companies an idiot could run, because one day one will.
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I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.
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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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In economics, you always want to ask 'And then what?'
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A newspaper that reduces its coverage of the news important to its community is certain to reduce its readership as well
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AIG would be doing fine today. It was one of the ten largest companies in the United States in terms of market value, over 200 billion, the most respected insurer and everything in the world.
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Never lie under any circumstances.
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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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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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Always invest for the long term.
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The advice you never go broke taking a profit is foolish.
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