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In business, I look for economic castles protected by unbreachable 'moats'.

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
Look
Looks
Moats
Castles
Protected
Economic

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Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused you sell to him, and if he gets depressed, you buy from him. There's no moral taint attached to that.
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People do, as long as you have markets, you'll have excesses.
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The ability to say no is a tremendous advantage for an investor.
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The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.
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Diversification is protection against ignorance. It makes little sense if you know what you are doing.
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A home is one of the most important assets that most people will ever buy. Homes are also where memories are made and you want to work with someone you can trust.
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Inactivity strikes us as intelligent behavior.
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Never invest in a business you can't understand
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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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I have never been able to understand why the tax comes as such a body blow to many people since the rate on long-term capital gain is lower than on most likes of endeavor (tax policy indicated digging ditches is regarded as socially less desirable than shuffling stock certificates).
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
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I find that the standard of living does not go up in proportion with the cost of living. The trick in life is to do things that are fun all the time.
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I know that Congress will do the right thing.
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If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game.
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There are certain things that cannot be adequately explained to a virgin either by words or pictures.
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If you invested in a very low cost index fund - where you don't put the money in at one time, but average in over 10 years -you'll do better than 90% of people who start investing at the same time.
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We look for things I can understand. A lot of businesses I don't understand.
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Take the high road it's far less crowded.
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If I got a chance to take one percent of the deal either way, I would make that bet.
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It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.
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