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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
Business
Finance
Destruction
Financial
Lethal
Weapons
Derivatives
Mass
Latent
View
Potentially
Danger
Dangers
Views
Carrying

More quotes by Warren Buffett

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Diversification is protection against ignorance. It makes little sense if you know what you are doing.
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Occasionally, a man must rise above principles.
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In some corner of the world they are probably still holding regular meetings of the Flat Earth Society. We derive no comfort because important people, vocal people, or great numbers of people agree with us. Nor do we derive comfort if they don't.
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The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.
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I have always cautioned partners that I considered three years a minimum in determining whether we were performing.
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Let only individuals contribute - with sensible limits per election. Otherwise, we are well on our way to ensuring that a government of the moneyed, by the moneyed, and for the moneyed shall not perish from the earth.
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There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.
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A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street (a community in which quality control is not prized) will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.
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[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
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No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics crazy. They can compute standard deviations and betas, but they can't understand moats.
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The trick is, when there is nothing to do, do nothing.
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I think confidence will come back.
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If you are a professional and have confidence, then I would advocate lots of concentration.
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Fear is the foe of the faddist, but the friend of the fundamentalist.
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I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
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The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
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The key to success is emotional stability.
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Be fearful when the markets get greedy, be greedy when the markets get fearful.
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I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?
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You can't stand to see your neighbor getting rich. You know you're smarter than he is and he's doing these things and he's getting rich.
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