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Investment must be rational if you can't understand it, don't do it.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Rational
Investment
Understand
Must

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A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.
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Read 500 pages every day. That's how knowledge works. It builds up like compound interest.
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Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests.
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Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.
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... but the important thing is that when you do find one where you really do know what you are doing, you must buy in quantity.... Charlie and I have made a dozen or so very big decisions relative to net worth, although not as big as they should have been. And in each of those, we've known that we were almost certain to be right going in.
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If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.
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One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.
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An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.
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The American worker is more productive than he's ever been.
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I don't think you can have a better secretary of the Treasury than Hank Paulson.
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In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.
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Our approach is very much profiting from lack of change rather than from change.
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The investor of today does not profit from yesterday's growth.
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The best education you can get is investing in yourself, and that doesn't mean college or university.
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Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.
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The time to buy stocks is consistently over time. You should never buy your investments with the idea, 'I have to get a certain return.' You should look at the best return possible and learn to live with that. But you should not try to make your investments earn what you feel you need. It doesn't work that way. The stock doesn't know you own it.
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Every day that goes by, I mean, if you don't react to Pearl Harbor for a week or two weeks or three weeks, you're behind in the war that you otherwise would have fought.
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Investing is laying out money now to get more money back in the future.
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Anyone who believes a growth rate in excess of 15% per annum over the long term is attainable should pursue a career in sales, but avoid one in mathematics.
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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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