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Things you like to do should be a hobby of yours, but things the world does should be a business of yours.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Hobby
Hobbies
Business
Doe
Things
Like
World

More quotes by Warren Buffett

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I was lucky to have the right heroes. Tell me who your heroes are and I'll tell you how you'll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming.
Warren Buffett
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If you gave me $100 billion and said take away the soft drink leadership of Coca-Cola in the world, I'd give it back to you and say it can't be done.
Warren Buffett
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An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.
Warren Buffett
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A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
Warren Buffett
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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.
Warren Buffett
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Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.
Warren Buffett
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Chains of habit are too light to be felt until they are too heavy to be broken.
Warren Buffett
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Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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.
Warren Buffett
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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.
Warren Buffett
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As far as you are concerned, the stock market does not exist. Ignore it.
Warren Buffett
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I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.
Warren Buffett
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I never invest in anything that I don't understand.
Warren Buffett
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I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
Warren Buffett
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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.
Warren Buffett
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If you don't find a way to make money while you sleep, you will work until you die.
Warren Buffett
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
Warren Buffett
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Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.
Warren Buffett
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The good thing is, we have household formation in this country.
Warren Buffett
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By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
Warren Buffett