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The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Investing
Affair
Greater
Values
Less
Insightful
Others
Prudence
Conduct
Affairs

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Risk can be greatly reduced by concentrating on only a few holdings.
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I have a house that I bought 55 years ago. It's warm in the winter it's cool in the summer. It has everything I wanted, plus it has all kinds of good memories. Like my kids, I have good thoughts about that. I can't imagine living any better.
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I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude.
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An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.
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When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.
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Never invest in a business you can't understand
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
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With a wonderful business, you can figure out what will happen you can't figure out when it will happen. You don't want to focus on when, you want to focus on what. If you're right about what, you don't have to worry about when
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First come the innovators, then come the imitators, then come the idiots.
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Don't pass up something that's attractive today because you think you will find something way more attractive tomorrow.
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Never invest in a business you don't understand.
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Honesty is a very expensive gift, Don't expect it from cheap people.
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You only have to do a very few things right in your life so long as you don't do too many things wrong.
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You are lucky in life if you have the right heroes. I advise all of you, to the extent you can, to pick out a few heroes
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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.
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Does the business have favourable long term prospects?
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The U.S. Treasury has got borrowing costs like nobody else has.
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A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street (a community in which quality control is not prized) will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.
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If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.
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... not doing what we love in the name of greed is very poor management of our lives.
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