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First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Wall
Prized
Control
Investors
Quality
Investing
Community
Sell
Anything
Sells
Firsts
Street
First
Many
Streets

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Do what you would do for free, having passion for what you do is the most important thing.
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If I got any good ideas out of that or I think they're good ideas, I'll be glad to contribute them but the system will probably overdo some other things.
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We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.
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It's never paid to bet against America. We come through things, but its not always a smooth ride.
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It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the percent we own marketable securities or things for which there are market, even if those markets - I want to tell them what it's all about.
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The stockmarket is a semi-psychotic creature given to extremes of elation and despair.
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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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You know, with your money and my brains, I mean, there's no telling how far we'd go.
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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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The plan itself is opportunism. There is no plan before that.
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In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'
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If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.
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Wide diversification is only required when investors do not understand what they are doing.
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The three most important words in investing...Margin of Safety.
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So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.
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The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.
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Risk comes from not knowing what you're doing.
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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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Writing a check separates a commitment from a conversation.
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