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I want to be able to explain my mistakes. This means I do only the things I completely understand.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Mean
Things
Explain
Mistakes
Completely
Mistake
Understand
Means
Able

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It is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them.
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The fundamental basis of above-average performance in the long run is sustainable competitive advantage.
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Take the job you would take if you were independently wealthy. You're going to do well at it.
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I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old.
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If principles can become dated, they're not principles.
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You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
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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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If I eat 2,700 calories a day, a quarter of that is Coca-Cola.
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We are trading away a little bit of our country all the time for this access consumption that we have over what we've produced. That is not good. I think it's terrible over time. But our country's productive grows enough so we actually can do that, and we'll still be better off. We just don't be as well off as if we hadn't done it.
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It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
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Fund consultants like to require style boxes such as long-short, macro, international equities. At Berkshire our only style box is smart.
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This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.
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I've argued with the senators and congressmen I've talked to. You don't want to be too little too late. If you buy them at the right price, you may be buying two trillion of face value.
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It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.
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Investing is simple, but not easy.
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It's never paid to bet against America. We come through things, but its not always a smooth ride.
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It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.
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I'll take the deal, whatever you want to do.
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