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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
Controlled
Investment
Decisions
Horse
Industry
Decision
Would
Auto
Horses

More quotes by Warren Buffett

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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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What we learn from history is that people don't learn from history.
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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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I bought a company in the mid-90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
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Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.
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We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.
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If principles can become dated, they're not principles.
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I think the oversight is great, and I think that oversight ought to be devoted almost entirely to the question is this being done at market you know. In other words, you want to make sure that the government isn't investing foolishly. But you don't want to care about which congressional districts it goes to or whether banks get favored over.
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If book knowledge made great investors, than the librarians would all be rich.
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Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: How many legs does a dog have, if you call a tail a leg? The answer: Four, because calling a tail a leg doesn't make it a leg.
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There is no substitute for a local newspaper that is doing its job.
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Read 500 pages every day. That's how knowledge works. It builds up like compound interest.
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Fund consultants like to require style boxes such as long-short, macro, international equities. At Berkshire our only style box is smart.
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Fear is the foe of the faddist, but the friend of the fundamentalist.
Warren Buffett
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Energy deregulation will be the largest transfer of wealth in history.
Warren Buffett
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Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics.
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In my opinion, the entire field of investment management, involving hundreds of billions of dollars, would be more satisfactorily conducted if everyone had a good yardstick for measurement of ability and sensibly applied it.
Warren Buffett
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Only when you combine sound intellect with emotional discipline do you get rational behavior.
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Gold has two significant shortcomings, being neither of much use nor procreative.
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My favorite time frame for holding a stock is forever.
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