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What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Waste
Contest
Intellectual
Contests
Taught
Bridge
Whether
Selection
Energy
Stock
Thinking
Bridges
Opponents
Chess
Advantageous

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Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.
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I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. You need to fill your mind with various competing thoughts and decide which make sense.
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I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
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I've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.
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The first rule is not to lose. The second rule is not to forget the first rule.
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They say the chains of habit are too light to be felt until they are too heavy to be broken. The chains you put around yourself now have enormous consequences as you go through life.
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You pay a very high price in the stock market for a cheery consensus.
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In looking for people to hire, look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.
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I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
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Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like.
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The difference between successful people and really successful people is that really successful people say no to almost everything.
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Never do anything in life if you would be ashamed of seeing it printed on the front page of your hometown newspaper for your friends and family to see.
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There is no question we have an access stock.
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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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Forecasts usually tell us more of the forecaster than of the forecast
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If, when making a stock investment, you're not considering holding it at least ten years, don't waste more than ten minutes considering it.
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Stocks of companies selling commodity-like products should come with a warning label: Competition may prove hazardous to human wealth.
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If anything, taxes for the lower and middle class and maybe even the upper-middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.
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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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In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.
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