Quote

[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

Change background

T
T
T

Change font

TAGS & TOPICS

Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
People
Pay
Mars
Gets
Hole
Stand
Africa
Scratching
Head
Holes
Guarding
Anyone
Investing
Someplace
Another
Ground
Melt
Around
Watching
Bury
Would
Gold
Utility

More quotes by Warren Buffett

Image
Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.
Warren Buffett
Image
So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense.
Warren Buffett
Image
You do not adequately protect yourself by being half awake when other are sleeping.
Warren Buffett
Image
It's the deleveraging that's going on right now that has caused the credit crisis.
Warren Buffett
Image
Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.
Warren Buffett
Image
Nothing sedates rationality like large doses of effortless money.
Warren Buffett
Image
Lethargy, bordering on sloth should remain the cornerstone of an investment style.
Warren Buffett
Image
I'm the luckiest guy in the world in terms of what I do for a living. No one can tell me to do things I don't believe in or things I think are stupid.
Warren Buffett
Image
What we really want to do is buy businesses that we would be happy to own forever.
Warren Buffett
Image
Making money isn't the backbone of our guiding purpose making money is the by-product of our guiding purpose. If you're doing something you love, you're more likely to put your all into it, and that generally equates to making money
Warren Buffett
Image
It’s not that I want money. It’s the fun of making money and watching it grow.
Warren Buffett
Image
I don't really think that, as a society, we [americans] want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
Warren Buffett
Image
I have three boxes on my desk: In, Out, and Too Hard.
Warren Buffett
Image
I am not in the business of predicting general stock market of business fluctuations. If you think I can do this, or think it is essential to an investment program, you should not be in the partnership.
Warren Buffett
Image
If you cannot control your emotions, you cannot control your money.
Warren Buffett
Image
If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.
Warren Buffett
Image
With a wonderful business, you can figure out what will happen you can't figure out when it will happen. You don't want to focus on when, you want to focus on what. If you're right about what, you don't have to worry about when
Warren Buffett
Image
We make investment decisions based on our evaluation of the most profitable combination of probabilities.
Warren Buffett
Image
Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.
Warren Buffett
Image
Don't risk what is important to you, to get what is not important to you.
Warren Buffett