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The active investors will have their returns diminished by a far greater percentage than will their inactive brethren. That means that the passive group - the know-nothings - must win.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Greater
Passive
Means
Investors
Nothings
Must
Investing
Inactive
Mean
Active
Diminished
Group
Percentage
Groups
Percentages
Return
Brethren
Winning
Returns

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Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.
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Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
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If you can't read the scoreboard. You don't know the score. If you don't know the score, you can't tell the winners from the losers.
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It is easier to rationalize than it is to be rational.
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It is more important to say no to an opportunity, than to say yes.
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My friends and I have been coddled long enough by a billionaire-friendly Congress.
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The time to buy stocks is consistently over time. You should never buy your investments with the idea, 'I have to get a certain return.' You should look at the best return possible and learn to live with that. But you should not try to make your investments earn what you feel you need. It doesn't work that way. The stock doesn't know you own it.
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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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I would rather sustain the penalties resulting from over-conservatism than face the consequences of error, perhaps with permanent capital loss, resulting from the adoption of New Era philosophy where trees really do grow to the sky.
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I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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Energy deregulation will be the largest transfer of wealth in history.
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It's going to be tough because the economy is going to be getting worse for a while. And it might fall off a cliff if this doesn't pass. But nobody will ever know that if it does.
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You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
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Let only individuals contribute - with sensible limits per election. Otherwise, we are well on our way to ensuring that a government of the moneyed, by the moneyed, and for the moneyed shall not perish from the earth.
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Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.
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I mean [Franklin Delano] Roosevelt didn't - you know, when he came in, he didn't print any money.
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I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.
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Success is having people love you that you want to have love you.
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In my opinion, the entire field of investment management, involving hundreds of billions of dollars, would be more satisfactorily conducted if everyone had a good yardstick for measurement of ability and sensibly applied it.
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