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When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Forever
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Holding
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More quotes by Warren Buffett

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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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Well, it may be all right in practice, but it will never work in theory
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A diamond cannot be polished without friction, nor a person perfected without trials. Someone is enjoying shade today because someone planted a tree a long time ago.
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I wouldn’t mind going to jail if I had three cellmates who played bridge
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If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
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A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.
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By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
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I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.
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Uncertainty is the friend of the buyer of long term values.
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It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market you don't base your decisions on what the market is doing, but on what you think is rational. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.
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Honesty is a very expensive gift, Don't expect it from cheap people.
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It's a big mistake to try and mislead people. They will turn around.
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I have this complicated procedure I go through every morning, which is to look in the mirror and decide what I'm going to do. And I feel at that point, everybody's had their say.
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Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life.
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The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
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If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.
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I know what I want to do and it makes sense to get going.
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You need a lot of curiosity for a long, long time.
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John Maynard Keynes essentially said, don't try and figure out what the market is doing. Figure out a business you understand, and concentrate.
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