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Wide diversification is only required when investors do not understand what they are doing.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Business
Required
Investing
Diversity
Investment
Wide
Intelligent
Diversification
Success
Buffets
Understand
Investors

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Asking for financial advice from a financial planner is like asking a barber if you need a hair cut.
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SUPPOSE that an investor you admire and trust comes to you with an investment idea. This is a good one, he says enthusiastically. I'm in it, and I think you should be, too.
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Buy into a company because you want to own it, not because you want the stock to go up.
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I buy expensive suits - they just look cheap on me.
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In earlier years, a lesser effort produced literally dozens of comparable opportunities. It is difficult to be objective about the causes for such diminution of one's own productivity. Three factors that seem apparent are: (1) a somewhat changed market environment (2) our increased size and (3) substantially more competition.
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A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.
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If I got a chance to take one percent of the deal either way, I would make that bet.
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What we learn from history is that people don't learn from history.
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Cash combined with courage in a time of crisis is priceless.
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It’s not that I want money. It’s the fun of making money and watching it grow.
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When investing, pessimism is your friend, euphoria the enemy.
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
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First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.
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Our approach is very much profiting from lack of change rather than from change.
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Look at market fluctuations as your friend rather than your enemy profit from folly rather than participate in it.
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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
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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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You need a lot of curiosity for a long, long time.
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