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Activity is the enemy of investment returns.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Returns
Investing
Investment
Activity
Return
Enemy

More quotes by Warren Buffett

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There are three kinds of people: 1. Innovators. 2. Imitators. 3. Idiots.
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I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones.
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Never test the depth of river with both the feet.
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The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.
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If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.
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Wild swings in share prices have more to do with the lemming- like behaviour of institutional investors than with the aggregate returns of the company they own.
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We've had public companies in the past in that business and they bleed. We've got a lot more blood than they do.
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If you have a great manager, you want to pay him very well.
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Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life.
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The investor of today does not profit from yesterday's growth.
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Never lie under any circumstances.
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Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.
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We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.
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Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.
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A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.
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The market system rewards me outlandishly for what I do, but that doesn't mean I'm any more deserving of a good life than a teacher or a doctor or someone who fights in Afghanistan.
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We make investment decisions based on our evaluation of the most profitable combination of probabilities.
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I don't really think that, as a society, we [americans] want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
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You are neither right nor wrong because the crowd disagrees with you.
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Either they're trying to con you or they're trying to con themselves.
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