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Well, it may be all right in practice, but it will never work in theory

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Theory
Practice
May
Wells
Well
Right
Work
Never

More quotes by Warren Buffett

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If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.
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The woman that comes in, takes the wastebasket away, she's paying 15.3 or whatever it is on payroll tax alone. I mean it is - I never had it so good.
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My father was the best person i've ever known.
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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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Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.
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Time is the friend of the wonderful company, the enemy of the mediocre.
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It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market you don't base your decisions on what the market is doing, but on what you think is rational. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.
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Investing in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the cards.
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If at first you do succeed, quit trying on investing.
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The best asset is your own self. You can become to an enormous degree the person you want to be
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The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
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There are 309 million people out there that are trying to improve their lot in life. And we've got a system that allows them to do it.
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Wild swings in share prices have more to do with the lemming- like behaviour of institutional investors than with the aggregate returns of the company they own.
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I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20.
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Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
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Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
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Gold has two significant shortcomings, being neither of much use nor procreative.
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Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.
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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.
Warren Buffett
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In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.
Warren Buffett