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The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Wells
Circle
Well
Area
Important
Circles
Thing
Defined
Areas
Large
Terms
Perimeter
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Competence
More quotes by Warren Buffett
I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.
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There is no staff. I make all the investment decisions and I do all my own analysis.
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The fundamental basis of above-average performance in the long run is sustainable competitive advantage.
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Never be afraid to ask for too much when selling or offer too little when buying.
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Never test the depth of river with both the feet.
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I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
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I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.
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If you want to soar like an eagle in life, you can't be flocking with the turkeys.
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Your money can be inflated away but your knowledge and talent cannot.
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Occasionally, a man must rise above principles.
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If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value.
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I find that the standard of living does not go up in proportion with the cost of living. The trick in life is to do things that are fun all the time.
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... the best way to own common stocks is through an index fund.
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We've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's 9 percent of GDP. That is stimulative as all get out. It's more stimulative than any policy we've followed since World War II.
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I lose confidence in other people, all kinds of institutions.
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You don't need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well.
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The stockmarket is a semi-psychotic creature given to extremes of elation and despair.
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The market system rewards me outlandishly for what I do, but that doesn't mean I'm any more deserving of a good life than a teacher or a doctor or someone who fights in Afghanistan.
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Risk comes from not knowing what you're doing.
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When 40 billion of treasury bills are sold like, seven day treasury bills, at a yield of 1/20th of one percent, that means the whole country is basically at the point virtually, or a lot of the country is at the point of putting the money under the mattress.
Warren Buffett
