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In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Political
Soon
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Pretty
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Trade

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Cash, though, is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent... When bills come due, only cash is legal tender. Don't leave home without it.
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Tell me your heroes and I'll tell you how your life will end up
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I've made money over the years by buying into good companies, run by good people, at attractive prices. And I don't try and make it out of buying into the market at one point and selling at another point.
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Banking is very good business if you don't do anything dumb.
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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.
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If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.
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The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.
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Writing a check separates a commitment from a conversation.
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Personally, I really hope I can treat everyone equally. I think I have done a pretty good job so far but I know I can do it better.
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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.
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The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
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So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense.
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Anyone who believes a growth rate in excess of 15% per annum over the long term is attainable should pursue a career in sales, but avoid one in mathematics.
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Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.
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Just imagine living on 21,000 a year. I mean you have 20 percent of the population doing that. So you don't have to worry about guys like me.
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If horses had controlled investment decisions, there would have been no auto industry.
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If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.
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Good big decisions do not take time at all, if they do you are in trouble.
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