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A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
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Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett

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Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.
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Occasionally, a man must rise above principles.
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Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.
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Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are.
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People do, as long as you have markets, you'll have excesses.
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Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.
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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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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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Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you're still around to play the next day.
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If you buy things you do not need, soon you will have to sell things you need.
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If book knowledge made great investors, than the librarians would all be rich.
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A single year's performance is of minor importance and, good or bad, should never be taken seriously.
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
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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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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.
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You have to be able to communicate in life and probably schools underemphasize that. If you can't talk to people or write, you're giving up your potential.
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Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?
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Games are won by players who focus on the playing field -- not by those whose eyes are glued to the scoreboard.
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I want to be able to explain my mistakes. This means I do only the things I completely understand.
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We're perfectly willing to trade away a big payoff for a certain payoff.
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