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You are lucky in life if you have the right heroes. I advise all of you, to the extent you can, to pick out a few heroes

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett

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The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.
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While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.
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You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.
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You get in a lot of trouble when you start putting fictitious numbers.
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
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If you can tell me who your heroes are, I can tell you how you're going to turn out in life.
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It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the percent we own marketable securities or things for which there are market, even if those markets - I want to tell them what it's all about.
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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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It will be good for us in the long run, and I mean there are, you know, six and a half billion people in this world. And it's great for 300 million to keep enjoying more and more property, but I think it's terrific if, you know, the remainder do.
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I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
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Stocks of companies selling commodity-like products should come with a warning label: Competition may prove hazardous to human wealth.
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It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.
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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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Our approach is very much profiting from lack of change rather than from change.
Warren Buffett
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My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.
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Investing in yourself is the best thing you can do. If you've got talents, no one can take them from you.
Warren Buffett
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I tell college students, when you get to be my age you will be successful if the people who you hope to have love you, do love you.
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All I have to do is think and not be influenced by others.
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... it's important to have the right monetary policy. It's important for, to have the right fiscal policy. But it's nowhere near as important as just the normal regenerative capacity of American capitalism.
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When you combine ignorance and leverage, you get some pretty interesting results.
Warren Buffett