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In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts the Depression a dozen or so recessions and financial panics oil shocks a flu epidemic and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.

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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More quotes by Warren Buffett

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Do not save what is left after spending, but spend what is left after saving.
Warren Buffett
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The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
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During inflation, Goodwill is the gift that keeps on giving.
Warren Buffett
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A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.
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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.
Warren Buffett
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When they get their ego involved, people do things they shouldn't do.
Warren Buffett
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If you can eliminate the government as a 39.6% partner, then you will be much better off.
Warren Buffett
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I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.
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For some reason, people take their cues from price action rather than from values. What doesn't work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up.
Warren Buffett
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As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.
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I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.
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The American worker is more productive than he's ever been.
Warren Buffett
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It irritates the hell out of me but you can't buy love.
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The extraordinary business does not require good management.
Warren Buffett
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I think the FDIC was one of the great inventions of the American.
Warren Buffett
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You only have to do a very few things right in your life so long as you don't do too many things wrong.
Warren Buffett
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Nothing sedates rationality like large doses of effortless money.
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My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.
Warren Buffett
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You get in a lot of trouble when you start putting fictitious numbers.
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We enjoy the process far more than the proceeds.
Warren Buffett