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I view derivatives as time bombs, both for the parties that deal in them and the economic system.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Views
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Economic
Derivatives
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Bombs
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Deals

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They [Goverment] take from the woman who comes in and takes the wastebaskets out.
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If you own the only newspaper in town, up until the last five years or so, you have pricing power and you didn't have to go to the office.
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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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It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.
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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 stock doesn't know that you own it.
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In the insurance business, there is no statute of limitation on stupidity.
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To win, the first thing you have to do is not lose.
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Does the business have a consistent operating history?
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Life is like a snowball. The important thing is finding wet snow and a really long hill.
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Confidence is key. You're not going to put your money - you're not going to leave your money with me unless you're confident I'm going to give it back to you.
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Making money isn't the backbone of our guiding purpose making money is the by-product of our guiding purpose. If you're doing something you love, you're more likely to put your all into it, and that generally equates to making money
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To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.
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Do what you would do for free, having passion for what you do is the most important thing.
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Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.
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The ability to say no is a tremendous advantage for an investor.
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I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.
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