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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
Mistake
Understand
Means
Able
Mean
Things
Explain
Mistakes
Completely

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When the president of the United States goes out at, you know, 8:00 o'clock in the morning and then his own party votes gets him 2 to 1 in the house, you know that somehow a message isn't getting out. It takes real leadership.
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During inflation, Goodwill is the gift that keeps on giving.
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Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.
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Do not put all your eggs in one basket.
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When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.
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We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.
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The best investment you can make is in yourself.
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Problems in a company are like cockroaches in the kitchen. You will never find just one
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You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
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You could be somewhere where the mail was delayed three weeks and do just fine investing.
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I lose confidence in other people, all kinds of institutions.
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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.
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I'll take the deal, whatever you want to do.
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Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
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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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The secret to happiness is having low expectations.
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In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.
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