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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
Hard
Dumbest
Competitor
Competitors
Commodity
Smarter
Investing
Business

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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.
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I asked him what he wanted to do for his career, and he replied that he wanted to go into a particular field, but thought he should work for McKinsey for a few years first to add to his resume. To me that's like saving sex for your old age. It makes no sense.
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We always live in an uncertain world. What is certain is that the United States will go forward over time.
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Writing a check separates a commitment from a conversation.
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The key to success is emotional stability.
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If past history was all there was to the game, the richest people would be librarians.
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A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.
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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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Wide diversification is only required when investors do not understand what they are doing.
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Does the business have a consistent operating history?
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Too often, a vast collection of possessions ends up possessing its owner.
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
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First come the innovators, then come the imitators, then come the idiots.
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Focus alone is not enough putting in the time to commit is also crucial to achieve success.
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