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If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Going
Market
Wouldn
Economy
Knew
Happen
Happens
Stock
Stills
Investing
Still
Necessarily

More quotes by Warren Buffett

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House prices just soared beyond - beyond reason in many places and they got financed in silly ways, and people lied about loans, all kinds of accesses entered into it. But that is what - that is the single biggest cause of why we're here.
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Investing requires qualities of temperament way more than it requires qualities of intellect.
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If I subscribed to the efficient market theory I would still be delivering papers
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The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.
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The market system rewards me outlandishly for what I do, but that doesn't mean I'm any more deserving of a good life than a teacher or a doctor or someone who fights in Afghanistan.
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You know, people talk about this being an uncertain time. You know, all time is uncertain. I mean, it was uncertain back in - in 2007, we just didn't know it was uncertain. It was - uncertain on September 10th, 2001. It was uncertain on October 18th, 1987, you just didn't know it.
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As of 1992, in fact-though the picture would have improved since then-the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero.
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The active investors will have their returns diminished by a far greater percentage than will their inactive brethren. That means that the passive group - the know-nothings - must win.
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I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.
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Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices
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You can be sure that over the next 10 years, you'll see something that you did not think was possible.
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Investing is the greatest business in the world because you never have to swing. You stand at the plate the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like then, when the fielders are asleep, you step up and hit it.
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What's nice about investing is you don't have to swing at every pitch.
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I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.
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If a business does well, the stock eventually follows.
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Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.
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Let blockheads read what blockheads wrote.
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In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.
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It is madness to risk losing what you need in pursuing what you simply desire.
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I was lucky to have the right heroes. Tell me who your heroes are and I'll tell you how you'll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming.
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