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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
Card
Cards
Figure
Figures
Game
Games

More quotes by Warren Buffett

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People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started.
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I don't think you can have a better secretary of the Treasury than Hank Paulson.
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It's just that right now the athlete's on the floor. But we - this is a super athlete.
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The purpose of life is to be loved by as many people as possible among those you want to have love you
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We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
Warren Buffett
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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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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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People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.
Warren Buffett
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Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation
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Does the business have a consistent operating history?
Warren Buffett
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The plan itself is opportunism. There is no plan before that.
Warren Buffett
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I think the worst mistake you can make in stocks is to buy or sell based on current headlines.
Warren Buffett
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If you hit a hole in one every hole, you wouldn’t play golf for very long.
Warren Buffett
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I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.
Warren Buffett
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Inactivity strikes us as intelligent behavior.
Warren Buffett
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We've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's 9 percent of GDP. That is stimulative as all get out. It's more stimulative than any policy we've followed since World War II.
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Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
Warren Buffett
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I choose to work with every single person that I work with. That ends up being the most important factor. I don't interact with people I don't like or admire. That's the key. It's like marrying.
Warren Buffett
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An ounce of prevention is worth a pound of cure understated.
Warren Buffett
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I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones.
Warren Buffett