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In a commodity business, it's very hard to be smarter than your dumbest competitor.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Commodity
Smarter
Investing
Business
Hard
Dumbest
Competitor
Competitors

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My wealth has come from a combination of living in America, some lucky genes, and compound interest.
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The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.
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Take the high road it's far less crowded.
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It is better to point out your own mistakes than have somebody else do it.
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I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.
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Wide diversification is only required when investors do not understand what they are doing.
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The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.
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But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things.
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While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.
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Investment must be rational if you can't understand it, don't do it.
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Forecasts may tell you a great deal about the forecaster they tell you nothing about the future.
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An investor needs to do very few things right as long as he or she avoids big mistakes.
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We've got a wonderful economic formula in this country.
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Do what you love and work for whom you admire the most, and you've given yourself the best chance in life you can.
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In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts the Depression a dozen or so recessions and financial panics oil shocks a flu epidemic and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
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We continue to make more money when snoring than when active.
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Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.
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You don't want 300 million Americans putting their money under the mattress.
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