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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
Thinking
Bridges
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Chess
Advantageous
Waste
Contest
Intellectual
Contests
Taught
Bridge
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Selection
Energy
Stock

More quotes by Warren Buffett

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It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.
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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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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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The good thing is, we have household formation in this country.
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We are in effect making a - to some extent, making a choice between future inflation and getting our - getting off the floor. And we're likely - we're likely to have more inflation in the future as a consequence of the things we do to fight the present situation.
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If you don’t feel comfortable making a rough estimate of the asset’s future earnings, just forget it and move on. No one has the ability to evaluate every investment possibility. But omniscience isn’t necessary you only need to understand the actions you undertake.
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Inactivity strikes us as intelligent behavior.
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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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The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.
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You can't stand to see your neighbor getting rich. You know you're smarter than he is and he's doing these things and he's getting rich.
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Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
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I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones.
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Stop trying to predict the direction of the stock market, the economy or elections.
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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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If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.
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Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.
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Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.
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When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.
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Buy companies with strong histories of profitability and with a dominant business franchise.
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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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