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Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Investing
Protection
Ignorance
Sense
Makes
Littles
Little
Diversification
More quotes by Warren Buffett
What we learn from history is that people don't learn from history.
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You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.
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You can't buy what is popular and do well.
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The secret to happiness is having low expectations.
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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
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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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Investing is simple, but not easy.
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We don't read other people's opinions. We want to get the facts, and then think.
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The Noah rule: Predicting rain doesn't count building arks does.
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If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.
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Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like.
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I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.
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You know ... you keep doing the same things and you keep getting the same result over and over again.
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We continue to make more money when snoring than when active.
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Derivatives are financial weapons of mass destruction.
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If I taught a class, on my final exam I would take an Internet company and ask, 'How much is this company worth?' Anyone who would answer, I would flunk.
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It's easy to identify many investment managers with great recent records. But past results, though important, do not suffice when prospective performance is being judged. How the record has been achieved is crucial.
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Mark Zuckerberg will be a hero to many young entrepreneurs 20 years from now. Bill Gates will be a hero to others, and they will look to those [people] like I read books when I was in my teens about Rockefeller or Carnegie.
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Unless your answers are clearly better, copy the answers of your betters.
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The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we invest in stocks, we invest in businesses.
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