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Never invest in a business you can't understand

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Investment
Management
Understand
Business
Buffets
Never
Invest
Investors
Investing
Economics

More quotes by Warren Buffett

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People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.
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Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay.
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Time is the friend of the wonderful company, the enemy of the mediocre.
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All day you wait for the pitch you like then when the fielders are asleep, you step up and hit it.
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As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.
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Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
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I always invest in companies an idiot could run, because one day one will.
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Investing is the greatest business in the world because you never have to swing. You stand at the plate the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like then, when the fielders are asleep, you step up and hit it.
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I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.
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Never give up searching for the job that you’re passionate about. Try to find the job you’d have if you were independently rich. Forget about the pay. 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'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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We need a tax system that essentially takes very good care of the people who just really aren't as well adapted to the market system but are nevertheless doing useful things in the society.
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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.
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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
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The patient that's on the floor with the cardiac arrest is not Wall Street. It's the American economy.
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We can afford to lose money - even a lot of money. But we can't afford to lose reputation - even a shred of reputation.
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Earnings can be pliable as putty when a charlatan heads the company reporting them.
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You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.
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Beware of geeks bearing formulas.
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For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.
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