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[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
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
In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.
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There are certain things that cannot be adequately explained to a virgin either by words or pictures.
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I am a better investor because I am a businessman, and a better businessman because I am no investor.
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If you don't find a way to make money while you sleep, you will work until you die.
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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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If principles can become dated, they're not principles.
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Earnings can be pliable as putty when a charlatan heads the company reporting them.
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Fund consultants like to require style boxes such as long-short, macro, international equities. At Berkshire our only style box is smart.
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Accounting is the language of business.
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I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
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