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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
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
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Melt
Around
Watching
Bury
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Gold
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More quotes by Warren Buffett
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
Investing in yourself is the best thing you can do. If you've got talents, no one can take them from you.
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The power of unconditional love. I mean, there is no power on earth like unconditional love.
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You don't need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well.
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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've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.
Warren Buffett
I look for businesses in which I think I can predict what they're going to look like in ten to fifteen years time. Take Wrigley's chewing gum. I don't think the internet is going to change how people chew gum.
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I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.
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If a business does well, the stock eventually follows.
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It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.
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Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
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It is madness to risk losing what you need in pursuing what you simply desire.
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In business, I look for economic castles protected by unbreachable 'moats'.
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There's not many businesses where someone can come in and offer to cut the price in half and somebody doesn't think about shifting. But that's the nature of the ratings business.
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People will always try to stop you from doing the right thing if it is unconventional.
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It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
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With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock
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Be fearful when the markets get greedy, be greedy when the markets get fearful.
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If the reason for doing something is that everyone else is doing it, it's not a good enough reason.
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I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.
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