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There are three kinds of people: 1. Innovators. 2. Imitators. 3. Idiots.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Kinds
Creativity
Three
Kind
Imitators
People
Imitator
Innovators
Idiots
Idiot

More quotes by Warren Buffett

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In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.
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Diversification is protection against ignorance. It makes little sense if you know what you are doing.
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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.
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If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.
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I don't measure my life by the money I've made. Other people might, but certainly don't.
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I always knew I was going to be rich. I don't think I ever doubted it for a minute.
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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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You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right - that's the only thing that makes you right. And if your facts and reasoning are right, you don't have to worry about anybody else.
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Don't risk what is important to you, to get what is not important to you.
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Continually challenge and be willing to amend your best loved ideas.
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I am a better investor because I am a businessman, and a better businessman because I am no investor.
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It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.
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I don't really think that, as a society, we [americans] want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
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Never test the depth of river with both the feet.
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It is easier to rationalize than it is to be rational.
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Do not take yearly results too seriously. Instead, focus on four or five-year averages.
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The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.
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If I got a chance to take one percent of the deal either way, I would make that bet.
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Valuing a business is part art and part science.
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There is no perfect mathematical formula for pricing a business.
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