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

More quotes by Warren Buffett

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When you combine ignorance and leverage, you get some pretty interesting results.
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We're perfectly willing to trade away a big payoff for a certain payoff.
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You're dealing with a lot of silly people in the marketplace it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be OK.
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Benign neglect, bordering on sloth, remains the hallmark of our investment process.
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In the business world, the rearview mirror is always clearer than the windshield.
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I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?
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Personally, I really hope I can treat everyone equally. I think I have done a pretty good job so far but I know I can do it better.
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The Fed is the greatest hedge fund in history.
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The American worker is more productive than he's ever been.
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Our system works. Over time, people will live better and better. We have a system that unleashes human potential, and now China has a system that unleashes human potential. We will have interruptions. We overshoot and undershoot sometimes, but your kids and grandkids will live better than you. Over time, we move ahead at a pretty damn rapid rate.
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The three most important words in investing...Margin of Safety.
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I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
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Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.
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We don't get paid for being busy, we get paid for being right.
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Every company that has an economist working for him has one employee too many.
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Mr. Market is your servant, not your guide.
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Money will not change how healthy you are or how many people love you.
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Wall Street makes its money on activity. You make your money on inactivity.
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The Stock Market is designed to transfer money from the Active to the Patient.
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I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject.
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