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The dumbest reason in the world to buy a stock is because it's going up.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Dumbest
Stock
Reason
Going
World

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First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.
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Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.
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The time to buy stocks is consistently over time. You should never buy your investments with the idea, 'I have to get a certain return.' You should look at the best return possible and learn to live with that. But you should not try to make your investments earn what you feel you need. It doesn't work that way. The stock doesn't know you own it.
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A lot of people disagree with me on this, I believe in mark to market.
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The power of unconditional love. I mean, there is no power on earth like unconditional love.
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Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.
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Asset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
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In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.
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Nevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results.
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As of 1992, in fact-though the picture would have improved since then-the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero.
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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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My favorite time frame for holding a stock is forever.
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Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.
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It's a big mistake to try and mislead people. They will turn around.
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I'll bring my tax returns you bring yours. I'll meet you anytime anywhere.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.
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You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not stocks, and if the business does all right over the long term, so will the stock.
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