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The trick is, when there is nothing to do, do nothing.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Trick
Generosity
Tricks
Nothing
Life

More quotes by Warren Buffett

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I think what people understand there probably - well, they were hoping the private sector would do it [rescuing AIG ].
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If you don't know the Jewelry, know the Jeweller
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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.
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Be fearful when there is greed and be greedy when there is fear.
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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.
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It's never paid to bet against America. We come through things, but its not always a smooth ride.
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A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.
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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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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
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I think the FDIC was one of the great inventions of the American.
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Someone's sitting in the shade today because someone planted a tree a long time ago. The person sitting in the shade now should be grateful for the person who planted and tended that tree. That includes all those benefactors of humanity throughout history that created, invented, financed, produced, maintained and improved all that we enjoy today.
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Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused you sell to him, and if he gets depressed, you buy from him. There's no moral taint attached to that.
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He must never forget Charlie's plea: Tell me where I'm going to die, so I'll never go there.
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A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.
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The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.
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Energy deregulation will be the largest transfer of wealth in history.
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Chains of habit are too light to be felt until they are too heavy to be broken.
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Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like.
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There is no perfect mathematical formula for pricing a business.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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