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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
Impatient
Mechanism
Stock
Efficient
Patient
Market
Wealth
Transferring
Wonderfully

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Be fearful when the markets get greedy, be greedy when the markets get fearful.
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Is management rational?
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If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.
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We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.
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My favorite time frame for holding a stock is forever.
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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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We have long felt that the only value of stock forecasters is to make fortune-tellers look good.
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You pay a very high price in the stock market for a cheery consensus.
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Never invest in a business you can't understand
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Businesses always have opportunities to improve service, product lines, manufacturing techniques, and the like, and obviously these opportunities should be seized. But a business that constantly encounters major change also encounters many chances for major error
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We make investment decisions based on our evaluation of the most profitable combination of probabilities.
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The plan itself is opportunism. There is no plan before that.
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Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: How many legs does a dog have, if you call a tail a leg? The answer: Four, because calling a tail a leg doesn't make it a leg.
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We continue to make more money when snoring than when active.
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Buy into a company because you want to own it, not because you want the stock to go up.
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People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.
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We've actually been pretty good on exports. I mean we are exporting 12% of our GDP now roughly.
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We will reject interesting opportunities rather than over-leverage our balance sheet.
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Never invest in a business you don't understand.
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I don't try and guess when to get in and out of the market. I have owned stocks consistently since 1942. I owned the - I was buying stocks the day before the election. I was buying the same stocks the day after election. And if Hillary had been elected, it would have been the same thing.
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