Quote

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.

Warren Buffett

Change background

T
T
T

Change font

TAGS & TOPICS

Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Grow
Assessing
Grows
Determining
Company
Competitive
Society
Affect
Rather
Investing
Given
Keys
Going
Advantage
Much
Industry
Durability

More quotes by Warren Buffett

Image
We only want to link up with people whom we like, admire, and trust. ... We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.
Warren Buffett
Image
OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.
Warren Buffett
Image
If you want your business to survive for 100 years, you've got to make it through every single day for 100 years. It's not enough to do it 99.9% of the time.
Warren Buffett
Image
Only when the tide goes out do you discover who's been swimming naked.
Warren Buffett
Image
A CEO's behavior has a huge impact on managers down the line.
Warren Buffett
Image
The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
Warren Buffett
Image
I measure success by how many people love me. And the best way to be loved is to be lo veable.
Warren Buffett
Image
There is no perfect mathematical formula for pricing a business.
Warren Buffett
Image
We have embraced the 21st century by entering such cutting-edge industries as brick, carpet, insulation and paint. Try to control your excitement.
Warren Buffett
Image
I've never been very fully employed either.
Warren Buffett
Image
The dominant factors affecting control valuations are earning power (past and prospective) and asset values.
Warren Buffett
Image
The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.
Warren Buffett
Image
When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.
Warren Buffett
Image
I spend twelve hours a week - a little over 10% of my waking hours - playing the game. Now I am trying to figure out how to get by on less sleep in order to fit in a few more hands.
Warren Buffett
Image
Well, it may be all right in practice, but it will never work in theory
Warren Buffett
Image
We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as focused investing.
Warren Buffett
Image
Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.
Warren Buffett
Image
You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
Warren Buffett
Image
Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about.
Warren Buffett
Image
[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