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I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
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Money
Borrowing
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Buffets
More quotes by Warren Buffett
[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.
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I've argued with the senators and congressmen I've talked to. You don't want to be too little too late. If you buy them at the right price, you may be buying two trillion of face value.
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Take the job you would take if you were independently wealthy. You're going to do well at it.
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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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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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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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If I taught a class, on my final exam I would take an Internet company and ask, 'How much is this company worth?' Anyone who would answer, I would flunk.
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I look for businesses in which I think I can predict what they're going to look like in ten to fifteen years time. Take Wrigley's chewing gum. I don't think the internet is going to change how people chew gum.
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There are certain things that cannot be adequately explained to a virgin either by words or pictures.
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If you can't communicate and talk to other people and get across your ideas, you're giving up your potential.
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It's good to learn from your mistakes. It's better to learn from other people's mistakes.
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Diversification may preserve wealth, but concentration builds wealth.
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We will only do with your money what we would do with our own.
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Money will always flow toward opportunity, and there is an abundance of that in America.
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Invest in as much of yourself as you can, you are your own biggest asset by far.
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Our approach is very much profiting from lack of change rather than from change.
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I made my first investment at age eleven. I was wasting my life up until then.
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There is nothing like writing to force you to think and get your thoughts straight.
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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
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The reaction of weak management to weak operations is often weak accounting.
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