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Risk can be greatly reduced by concentrating on only a few holdings.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Greatly
Investing
Risk
Holdings
Buffets
Concentrating
Reduced

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Buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either.
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Turnarounds seldom turn.
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An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business.
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Sound investing can make you very wealthy if you're not in too big a hurry
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I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.
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Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.
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I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp.
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Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.
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When it's raining gold, reach for a bucket, not a thimble.
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You do not adequately protect yourself by being half awake when other are sleeping.
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If you gave me $100 billion and said take away the soft drink leadership of Coca-Cola in the world, I'd give it back to you and say it can't be done.
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Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests.
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The 19th century belonged to England, the 20th century belonged to the U.S., and the 21st century belongs to China. Invest accordingly.
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Diversification may preserve wealth, but concentration builds wealth.
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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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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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They say the chains of habit are too light to be felt until they are too heavy to be broken. The chains you put around yourself now have enormous consequences as you go through life.
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Wide diversification is only required when investors do not understand what they are doing.
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Writing a check separates a commitment from a conversation.
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Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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