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A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.

Warren Buffett

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

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I always knew I was going to be rich. I don't think I ever doubted it for a minute.
Warren Buffett
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Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
Warren Buffett
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I mean [Franklin Delano] Roosevelt didn't - you know, when he came in, he didn't print any money.
Warren Buffett
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At age 19, I read a book [The Intelligent Investor] and what I'm doing today, at age 76, is running things through the same thought process I learned from the book I read at 19.
Warren Buffett
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Do not take yearly results too seriously. Instead, focus on four or five-year averages.
Warren Buffett
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Wide diversification is only required when investors do not understand what they are doing.
Warren Buffett
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Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.
Warren Buffett
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If knowing history made you rich, librarians would be billionaires.
Warren Buffett
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In business, I look for economic castles protected by unbreachable 'moats'.
Warren Buffett
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Most investors, both institutional and individual, will find that the best way to own common stocks (shares') is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses) of the great majority of investment professionals.
Warren Buffett
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For some reason, people take their cues from price action rather than from values. What doesn't work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up.
Warren Buffett
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Investing is forgoing consumption now in order to have the ability to consume more at a later date.
Warren Buffett
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It is unquestionably true that the investment companies have their money more conventionally invested than we do. To many people conventionality is indistinguishable from conservatism. In my view, this represents erroneous thinking. Neither a conventional nor an unconventional approach, per se, is conservative.
Warren Buffett
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Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
Warren Buffett
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Time is the friend of the wonderful company, the enemy of the mediocre.
Warren Buffett
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It will be good for us in the long run, and I mean there are, you know, six and a half billion people in this world. And it's great for 300 million to keep enjoying more and more property, but I think it's terrific if, you know, the remainder do.
Warren Buffett
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I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood in fact, if it occurswe will be selling life jackets to the unprepared.
Warren Buffett
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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.
Warren Buffett
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The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.
Warren Buffett
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I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
Warren Buffett