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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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Mars
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More quotes by Warren Buffett
With housing it's something even more dramatic than that, because most people aspire to own their own home.If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year.That's not true of an Internet stock. But it's true of a home.
Warren Buffett
I think people - what people want to do is make [economy] get worse.
Warren Buffett
Time is your friend, impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market.
Warren Buffett
You could be somewhere where the mail was delayed three weeks and do just fine investing.
Warren Buffett
When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
Warren Buffett
I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me.
Warren Buffett
Calculate owner earnings to get a true reflection of value.
Warren Buffett
I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
Warren Buffett
Buy into a company because you want to own it, not because you want the stock to go up.
Warren Buffett
Accounting is the language of business.
Warren Buffett
I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
Warren Buffett
I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.
Warren Buffett
As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.
Warren Buffett
When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.
Warren Buffett
... the best way to own common stocks is through an index fund.
Warren Buffett
I have a house that I bought 55 years ago. It's warm in the winter it's cool in the summer. It has everything I wanted, plus it has all kinds of good memories. Like my kids, I have good thoughts about that. I can't imagine living any better.
Warren Buffett
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Warren Buffett
In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.
Warren Buffett
The single most important decision in evaluating a business is pricing power.
Warren Buffett
Does the business have favourable long term prospects?
Warren Buffett