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I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

Warren Buffett

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

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Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation
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An investor needs to do very few things right as long as he or she avoids big mistakes.
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Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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Never give up searching for the job that you're passionate about.
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When the brothel burns down, even the pretty girls have to run out.
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So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.
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I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative.
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First come the innovators, then come the imitators, then come the idiots.
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In the end we must have people to match our principles, not the reverse.
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If you don't know jewelry, know the jeweler.
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Learning how to live is much more important than learning how to make a living.
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When you're associating with the people that you love, doing what you love, it doesn't get any better than that.
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I think the biggest thing we need is to unclog the credit markets, and we may need another stimulus - if we do, it's - it should go to the lower and middle-income people.
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I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.
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We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are ignored.
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Every company that has an economist working for him has one employee too many.
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Never ask a barber if you need a haircut.
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An investor should act as though he had a lifetime decision card with just twenty punches on it.
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I'm not worried they're all about the investments we make. I mean, listen, this country - we've got $46,000 or $47,000 of GDP per capita. Now, we've done pretty darn well. We'll do better in the future.
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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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