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The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Value
Paying
Values
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Business
Investing
Buffets
Fairs
Determining
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Bargain
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Intrinsic
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More quotes by Warren Buffett

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Well, it may be all right in practice, but it will never work in theory
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Focus alone is not enough putting in the time to commit is also crucial to achieve success.
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Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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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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No matter how great the talent or efforts, some things just take time.
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By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
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I don't think you can have a better secretary of the Treasury than Hank Paulson.
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Investors... can't pick stocks that are better than average. Stocks are a good thing to own over time. There's only two things you can do wrong: You can buy the wrong ones, and you can buy or sell them at the wrong time. And the truth is you never need to sell them.
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One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.
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I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.
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Honesty is a very expensive gift, Don't expect it from cheap people.
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I certainly have no desire to sell a good controlled business run by people I like and admire, merely to obtain a fancy price. However, specific conditions may cause the sale of one operating unit at some point.
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If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.
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In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.
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If I subscribed to the efficient market theory I would still be delivering papers
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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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The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.
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Stop trying to predict the direction of the stock market, the economy or elections.
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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
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I make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.
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