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Long ago, Ben Graham taught me that Price is what you pay value is what you get. Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
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Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett

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A lot of people disagree with me on this, I believe in mark to market.
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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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In business, I look for economic castles protected by unbreachable 'moats'.
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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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I would say the biggest single cause was we had an incredible residential real estate bubble.
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My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.
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Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.
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I made my first investment at age eleven. I was wasting my life up until then.
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Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.
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The thing to do is to keep your mind when the world around you is losing theirs.
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