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Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.

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
Things
Ignorant
Life
Wide
Risk
Knowing
Diversification
Wrong
Buffets
Comes
Investors
Many
Required

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I'm putting all my money in the Chinese toy market.
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Long ago, Ben Graham taught me that Price is what you pay value is what you get. Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.
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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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Benign neglect, bordering on sloth, remains the hallmark of our investment process.
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In the search [of a deal], we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.
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Look for 3 things in a person. Intelligence, Energy, & Integrity. If they don't have the last one, don't even bother with the first two.
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It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.
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Activity is the enemy of investment returns.
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What the wise do in the beginning, fools do in the end.
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There seems to be some perverse human characteristic that likes to make easy things difficult.
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I measure success by how many people love me. And the best way to be loved is to be lo veable.
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The wise man once said invest young
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Cash combined with courage in a time of crisis is priceless.
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Focus alone is not enough putting in the time to commit is also crucial to achieve success.
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The only question is whether you’re going to do it today or tomorrow. If you keep saying you’re going to do it tomorrow, you’ll never do it. You have to get on it today.
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If book knowledge made great investors, than the librarians would all be rich.
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You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not stocks, and if the business does all right over the long term, so will the stock.
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Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?
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Inactivity strikes us as intelligent behavior.
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First come the innovators, then come the imitators, then come the idiots.
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