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Traditional wisdom is long on tradition and short on wisdom.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Long
Investing
Traditional
Tradition
Short
Wisdom

More quotes by Warren Buffett

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If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.
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Your money can be inflated away but your knowledge and talent cannot.
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Stocks of companies selling commodity-like products should come with a warning label: Competition may prove hazardous to human wealth.
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If you are a professional and have confidence, then I would advocate lots of concentration.
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You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
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Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.
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In the business world, the rearview mirror is always clearer than the windshield.
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They [Goverment] take from the woman who comes in and takes the wastebaskets out.
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If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.
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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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The Noah rule: Predicting rain doesn't count building arks does.
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The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.
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When Berkshire buys common stock, we approach the transaction as if we were buying into a private business.
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I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative.
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How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.
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Sound investing can make you very wealthy if you're not in too big a hurry
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We don't have to be smarter than the rest. We have to be more disciplined than the rest.
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Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused you sell to him, and if he gets depressed, you buy from him. There's no moral taint attached to that.
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I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.
Warren Buffett