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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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More quotes by Warren Buffett
I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.
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I buy expensive suits - they just look cheap on me.
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We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.
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There is no staff. I make all the investment decisions and I do all my own analysis.
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A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.
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If the reason for doing something is that everyone else is doing it, it's not a good enough reason.
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It's better to build than to buy if you can find the right people.
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If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.
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We do not view the company itself as the ultimate owner of our business assets but instead view the company as a conduit through which our shareholders own assets.
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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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It is madness to risk losing what you need in pursuing what you simply desire.
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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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The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.
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There is no question we have an access stock.
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It is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them.
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Wild swings in share prices have more to do with the lemming- like behaviour of institutional investors than with the aggregate returns of the company they own.
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Diversification may preserve wealth, but concentration builds wealth.
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I have three boxes on my desk: In, Out, and Too Hard.
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
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Don't pass up something that's attractive today because you think you will find something way more attractive tomorrow.
Warren Buffett
