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I always say that in investing you want to buy stock in a company that has a business that's so good that an idiot can run it, because sooner or later one will. We have a country like that.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Later
Company
Business
Running
Country
Stock
Good
Sooner
Always
Idiot
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Investing

More quotes by Warren Buffett

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Games are won by players who focus on the playing field -- not by those whose eyes are glued to the scoreboard.
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Intensity is the price of excellence.
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The latter qualification brings to mind a fellow who applied for a job and stated he had twenty years of experience-which was corrected by a former employer to read one year's experience-twenty times.
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Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.
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Investment must be rational if you can't understand it, don't do it.
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The most important quality for an investor is temperament, not intellect.
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The three most important words in investing...Margin of Safety.
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A lot of people disagree with me on this, I believe in mark to market.
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... but the important thing is that when you do find one where you really do know what you are doing, you must buy in quantity.... Charlie and I have made a dozen or so very big decisions relative to net worth, although not as big as they should have been. And in each of those, we've known that we were almost certain to be right going in.
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...I will give you two pieces of advice. Invest as much in yourself as you can you are your own best asset by far. Then follow your passion you want to be really excited to get out of bed every morning.
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Inflation could be a very - is a likely consequence out of what's going on now.
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People will always try to stop you from doing the right thing if it is unconventional.
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Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.
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In earlier years, a lesser effort produced literally dozens of comparable opportunities. It is difficult to be objective about the causes for such diminution of one's own productivity. Three factors that seem apparent are: (1) a somewhat changed market environment (2) our increased size and (3) substantially more competition.
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Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation
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I really like my life. I've arranged my life so that I can do what I want.
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What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.
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If you are a professional and have confidence, then I would advocate lots of concentration.
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Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.
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Always invest for the long term.
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