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If you're in a card game and you can't figure out who the patsy is, you're it.

Warren Buffett

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

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Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.
Warren Buffett
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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.
Warren Buffett
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Buy into a company because you want to own it, not because you want the stock to go up.
Warren Buffett
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Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.
Warren Buffett
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Nothing sedates rationality like large doses of effortless money.
Warren Buffett
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There is no perfect mathematical formula for pricing a business.
Warren Buffett
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We've got all the ingredients for a sensational future.
Warren Buffett
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Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay.
Warren Buffett
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You can't help some increase from this point. I don't want any viewer to go away think a magic wand exists in Congress. So they're going to see some more bad news. But if we do this, we're doing the right thing.
Warren Buffett
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I've made money over the years by buying into good companies, run by good people, at attractive prices. And I don't try and make it out of buying into the market at one point and selling at another point.
Warren Buffett
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I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.
Warren Buffett
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I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
Warren Buffett
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The nature of democracy is such that when there's - there'll be revulsion, obviously, towards - that's never going to happen again.
Warren Buffett
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Buy a business, don't rent stocks.
Warren Buffett
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You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.
Warren Buffett
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You don't have to be a genius to invest well
Warren Buffett
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I wouldn’t mind going to jail if I had three cellmates who played bridge
Warren Buffett
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...I will give you two pieces of advice. Invest as much in yourself as you can you are your own best asset by far. Then follow your passion you want to be really excited to get out of bed every morning.
Warren Buffett
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A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.
Warren Buffett
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[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
Warren Buffett