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Beware of geeks bearing formulas.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Investing
Saving
Geeks
Investment
Bearing
Beware
Geek
Savings
Formulas

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If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.
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Equities will do well over time - you just have to avoid getting excited when other people are getting excited.
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Take the high road it's far less crowded.
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If you want to shoot rare, fast-moving elephants, you should always carry a loaded gun.
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Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.
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When 40 billion of treasury bills are sold like, seven day treasury bills, at a yield of 1/20th of one percent, that means the whole country is basically at the point virtually, or a lot of the country is at the point of putting the money under the mattress.
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Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
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When investing, pessimism is your friend, euphoria the enemy.
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Don't risk what is important to you, to get what is not important to you.
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The value of a business is the cash it's going to produce in the future.
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I think the oversight is great, and I think that oversight ought to be devoted almost entirely to the question is this being done at market you know. In other words, you want to make sure that the government isn't investing foolishly. But you don't want to care about which congressional districts it goes to or whether banks get favored over.
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Observing that the market was FREQUENTLY efficient, EMT Adherents went on to conclude incorrectly that it was ALWAYS efficient. The difference between these propositions is night and day.
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The power of unconditional love. I mean, there is no power on earth like unconditional love.
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Focus on return on equity, not earnings per share.
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If you can eliminate the government as a 39.6% partner, then you will be much better off.
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Take the job you would take if you were independently wealthy. You're going to do well at it.
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One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
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Having a large amount of leverage is like driving a car with a dagger on the steering wheel pointed at your heart. If you do that, you will be a better driver. There will be fewer accidents but when they happen, they will be fatal.
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