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If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Future
Business
Littles
Little
Margin
Need
Margins
Needs
Perfectly
Way
Safety
Understood

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All I have to do is think and not be influenced by others.
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If you own the only newspaper in town, up until the last five years or so, you have pricing power and you didn't have to go to the office.
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Stocks of companies selling commodity-like products should come with a warning label: Competition may prove hazardous to human wealth.
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Fear is the foe of the faddist, but the friend of the fundamentalist.
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People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.
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It is better to point out your own mistakes than have somebody else do it.
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Energy deregulation will be the largest transfer of wealth in history.
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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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Never invest in a business you can't understand
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We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are ignored.
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During inflation, Goodwill is the gift that keeps on giving.
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Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay.
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I'm the luckiest guy in the world in terms of what I do for a living. No one can tell me to do things I don't believe in or things I think are stupid.
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I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me.
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We will prosper or suffer in controlled investments in relation to the operating performances of our businesses - we will not attempt to profit by playing various games in the securities markets.
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In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.
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You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it.
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When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
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When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a break requires - now or down the line - that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can however, determine who pays for lunch.
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Chains of habit are too light to be felt until they are too heavy to be broken.
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