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The financial calculus that Charlie and I employ would never permit our trading a good night's sleep for a shot at a few extra percentage points of return. I've never believed in risking what my friends and family have and need in order to pursue what they don't have and don't need.

Warren Buffett

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

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In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.
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Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.
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Very successful people say no to almost everything.
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If I taught a class, on my final exam I would take an Internet company and ask, 'How much is this company worth?' Anyone who would answer, I would flunk.
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Earnings can be pliable as putty when a charlatan heads the company reporting them.
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The greater the potential for reward in the value portfolio, the less risk there is.
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This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.
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If you can't communicate and talk to other people and get across your ideas, you're giving up your potential.
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You are neither right nor wrong because the crowd disagrees with you.
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Do not put all your eggs in one basket.
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I would say the most satisfying thing actually is watching my three children each pick up on their own interests and work many more hours per week than most people that have jobs at trying to intelligently give away that money in fields that they particularly care about.
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Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
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I don't think you can have a better secretary of the Treasury than Hank Paulson.
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
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You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.
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Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.
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I view derivatives as time bombs, both for the parties that deal in them and the economic system.
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The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.
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If you are a professional and have confidence, then I would advocate lots of concentration.
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... the best way to own common stocks is through an index fund.
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