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The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Mechanism
Stock
Efficient
Patient
Market
Wealth
Transferring
Wonderfully
Impatient

More quotes by Warren Buffett

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Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
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I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life.
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What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important knowing its boundaries, however, is vital.
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The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves - and the better the teacher, the better the student body.
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We look for things I can understand. A lot of businesses I don't understand.
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I think people - what people want to do is make [economy] get worse.
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The rich invest in time, the poor invest in money.
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When bills come due, only cash is legal tender. Don't leave home without it.
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I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
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An investor should act as though he had a lifetime decision card with just twenty punches on it.
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You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not stocks, and if the business does all right over the long term, so will the stock.
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The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
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Too often, a vast collection of possessions ends up possessing its owner.
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We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as focused investing.
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Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.
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If you want to shoot rare, fast-moving elephants, you should always carry a loaded gun.
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I think the FDIC was one of the great inventions of the American.
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People should always know better.
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The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.
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I can't promise results, but I can promise a common destiny.
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