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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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Don't invest in pieces of papers (stocks), invest in great businesses underlying them
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It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.
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Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
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In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.
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There seems to be some perverse human characteristic that likes to make easy things difficult.
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Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich.
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Tell me your heroes and I'll tell you how your life will end up
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The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.
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Don't settle for anything other than your passion - if you're lucky enough to find it.
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I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up.
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You have hedge funds and people like that buying these assets to yield 15 or 20 percent, I mean, that's the buyer for these people that are trying to unload them.
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We have embraced the 21st century by entering such cutting-edge industries as brick, carpet, insulation and paint. Try to control your excitement.
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Never invest in a business you don't understand.
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I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
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The most important investment you can make is in yourself. Very few people get anything like their potential horsepower translated into the actual horsepower of their output in life. Potential exceeds realization for many people...The best asset is your own self. You can become to an enormous degree the person you want to be.
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We can afford to lose money - even a lot of money. But we can't afford to lose reputation - even a shred of reputation.
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The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.
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When we really sit back with a smile on our face is when we run into a situation we can understand, where the facts are ascertainable and clear, and the course of action obvious.
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The extraordinary business does not require good management.
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