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In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
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Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett

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There are three kinds of people: 1. Innovators. 2. Imitators. 3. Idiots.
Warren Buffett
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My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.
Warren Buffett
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The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
Warren Buffett
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I don't really think that, as a society, we [americans] want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
Warren Buffett
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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
Warren Buffett
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A diamond cannot be polished without friction, nor a person perfected without trials. Someone is enjoying shade today because someone planted a tree a long time ago.
Warren Buffett
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Take Wrigley's Chewing Gum. I don't think the Internet is going to change how people chew gum.
Warren Buffett
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Larger sums may be an advantage at some cases and a disadvantage at others.
Warren Buffett
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We've had public companies in the past in that business and they bleed. We've got a lot more blood than they do.
Warren Buffett
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You are neither right nor wrong because the crowd disagrees with you.
Warren Buffett
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There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.
Warren Buffett
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Chains of habit are too light to be felt until they are too heavy to be broken.
Warren Buffett
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Charlie and I have a number of filters that things have to get through before we'll think about them.
Warren Buffett
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If you invested in a very low cost index fund - where you don't put the money in at one time, but average in over 10 years -you'll do better than 90% of people who start investing at the same time.
Warren Buffett
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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.
Warren Buffett
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An investor needs to do very few things right as long as he or she avoids big mistakes.
Warren Buffett
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A public-opinion poll is no substitute for thought.
Warren Buffett
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I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old.
Warren Buffett
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All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.
Warren Buffett
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I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today.
Warren Buffett