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Does the business have favourable long term prospects?

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Doe
Long
Favourable
Prospects
Investing
Term
Business

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Do what you would do for free, having passion for what you do is the most important thing.
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Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about.
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Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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The stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch.
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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
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We have provided capital here with a couple of institutions recently. The Federal government did that in the '30s for the RFC and I think there could well be a proper role for government in that.
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If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life.
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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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Never get too hung up on mistakes.
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If book knowledge made great investors, than the librarians would all be rich.
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We all make mistakes. If you can't make mistakes, you can't make decisions. I've made a lot bigger mistakes myself.
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Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.
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If you gave me $100 billion and said take away the soft drink leadership of Coca-Cola in the world, I'd give it back to you and say it can't be done.
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The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
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Never give up searching for the job that you're passionate about.
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I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I'd been born into a tribe of hunters, this talent of mine would be pretty worthless. I can't run very fast. I'm not particularly strong. I'd probably end up as some wild animal's dinner.
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Never ask a barber if you need a haircut.
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Would you rather be the world's greatest lover, but have everyone think you're the world's worst lover? Or would you rather be the world's worst lover but have everyone think you're the world's greatest lover? Now, that's an interesting question.
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As one of my older friends says, Nostalgia just isn't what it used to be. Let's take a stab at it, anyway.
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it's a good idea to review past mistakes before committing new ones.
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