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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
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Warren Edward Buffett
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More quotes by Warren Buffett

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It will be good for us in the long run, and I mean there are, you know, six and a half billion people in this world. And it's great for 300 million to keep enjoying more and more property, but I think it's terrific if, you know, the remainder do.
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We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20 trillion, I should say, worth of residential homes.
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The reaction of weak management to weak operations is often weak accounting.
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I look at everything. That's my job. I really do, every day. I think about everything.
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People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.
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If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.
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Diversification is protection against ignorance. It makes little sense if you know what you are doing.
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Honesty is a very expensive gift, Don't expect it from cheap people.
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Let only individuals contribute - with sensible limits per election. Otherwise, we are well on our way to ensuring that a government of the moneyed, by the moneyed, and for the moneyed shall not perish from the earth.
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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.
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I've often felt there might be more to be gained by studying business failures than business successes.
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An investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace.
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The best business returns are usually achieved by companies that are doing something quite similar today to what they were doing five or ten years ago.
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If horses had controlled investment decisions, there would have been no auto industry.
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Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
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Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.
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When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.
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I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood in fact, if it occurswe will be selling life jackets to the unprepared.
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We have a country where I don't know whether it's a million households a year or more, but good form.
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Be fearful when there is greed and be greedy when there is fear.
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