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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
Efficient
Patient
Market
Wealth
Transferring
Wonderfully
Impatient
Mechanism
Stock

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If you have a harem of 40 women, you never get to know any of them very well.
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The greater the potential for reward in the value portfolio, the less risk there is.
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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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Don't settle for anything other than your passion - if you're lucky enough to find it.
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Diversification may preserve wealth, but concentration builds wealth.
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I'm happy when I can spend every day doing the things that I like to do. That's my luxury.
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To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.
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It's easier to create money than to spend it.
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A single year's performance is of minor importance and, good or bad, should never be taken seriously.
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I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.
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Somebody's buying these treasury bills at 1/20th of one percent. Consuming about $2 billion a day of goods and services beyond what we're producing. In other words, the rest of the world sends about $2 billion a day net of something.We got to send them something in return, don't we. So we send them little pieces of paper.
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The only way to get love is to be lovable. It's very irritating if you have a lot of money. You'd like to think you could write a check: I'll buy a million dollars' worth of love. But it doesn't work that way. The more you give love away, the more you get.
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The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.
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If principles can become dated, they're not principles.
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This economy doesn't work well without the lubrication of credit and trust.
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Someone is sitting in the shade today because someone planted a tree a long time ago.
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We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.
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The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.
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