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In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Mass
Latent
View
Potentially
Danger
Dangers
Views
Carrying
Business
Finance
Destruction
Financial
Lethal
Weapons
Derivatives

More quotes by Warren Buffett

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Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.
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There is no question we have an access stock.
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I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing.
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I always knew I was going to be rich. I don't think I ever doubted it for a minute.
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There is no staff. I make all the investment decisions and I do all my own analysis.
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A very rich person should leave his kids enough to do anything, but not enough to do nothing.
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We make investment decisions based on our evaluation of the most profitable combination of probabilities.
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A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
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I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing.
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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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If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.
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When investing, pessimism is your friend, euphoria the enemy.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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I would rather sustain the penalties resulting from over-conservatism than face the consequences of error, perhaps with permanent capital loss, resulting from the adoption of New Era philosophy where trees really do grow to the sky.
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Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.
Warren Buffett
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I know the country works extremely well. You know, but when it isn't clogged up.
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You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map.
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I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.
Warren Buffett
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
Warren Buffett
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The difference between successful people and really successful people is that really successful people say no to almost everything.
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