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First come the innovators, then come the imitators, then come the idiots.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
First
Imitators
Imitator
Innovators
Idiots
Idiot
Investing
Firsts
Come

More quotes by Warren Buffett

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SUPPOSE that an investor you admire and trust comes to you with an investment idea. This is a good one, he says enthusiastically. I'm in it, and I think you should be, too.
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It's much easier to stay out of trouble now than to get out of trouble later.
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Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich.
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The woman that comes in, takes the wastebasket away, she's paying 15.3 or whatever it is on payroll tax alone. I mean it is - I never had it so good.
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If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.
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Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
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I certainly do believe anyone engaged in the management of money should have a standard of measurement, and that both he and the party whose money is managed should have a clear understanding why it is the appropriate standard, what time period should be utilized, etc.
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We've got a wonderful economic formula in this country.
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Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.
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If you want to soar like an eagle in life, you can't be flocking with the turkeys.
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Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.
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A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.
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So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.
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You don't want 300 million Americans putting their money under the mattress.
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Never risk what you have and need for what we don't have and don't need.
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When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.
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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.
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He must never forget Charlie's plea: Tell me where I'm going to die, so I'll never go there.
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The plan itself is opportunism. There is no plan before that.
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