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If horses had controlled investment decisions, there would have been no auto industry.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Horse
Industry
Decision
Would
Auto
Horses
Controlled
Investment
Decisions

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The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
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You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.
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I have always cautioned partners that I considered three years a minimum in determining whether we were performing.
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I want to be able to explain my mistakes. This means I do only the things I completely understand.
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A lot of people disagree with me on this, I believe in mark to market.
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The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
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I'm happy when I can spend every day doing the things that I like to do. That's my luxury.
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A diamond cannot be polished without friction, nor a person perfected without trials. Someone is enjoying shade today because someone planted a tree a long time ago.
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If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.
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The most important quality for an investor is temperament, not intellect.
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A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.
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People always should know better. People don't get - they don't get smarter about things that get as basic as greed.
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It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.
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Risk is a part of God's game, alike for men and nations.
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You can't buy what is popular and do well.
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If anything, taxes for the lower and middle class and maybe even the upper-middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.
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Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.
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AIG would be doing fine today. It was one of the ten largest companies in the United States in terms of market value, over 200 billion, the most respected insurer and everything in the world.
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Money will not change how healthy you are or how many people love you.
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A newspaper that reduces its coverage of the news important to its community is certain to reduce its readership as well
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