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I don't really think that, as a society, we [americans] want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.

Warren Buffett

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

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The same things happen to quite an extent around the globe. I mean, the European banks were doing what the American banks were.
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Wall Street makes its money on activity. You make your money on inactivity.
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Growth and value investing are joined at the hip.
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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?
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The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.
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With housing it's something even more dramatic than that, because most people aspire to own their own home.If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year.That's not true of an Internet stock. But it's true of a home.
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I would say it's more important who the treasury secretary is than who the vice president is. If you want to have a debate here, I'd like a debate between potential treasury secretaries than the vice presidential debate.
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I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.
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You are lucky in life if you have the right heroes. I advise all of you, to the extent you can, to pick out a few heroes
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The important thing is to keep playing, to play against weak opponents and to play for big stakes.
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We're perfectly willing to trade away a big payoff for a certain payoff.
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Is management candid with the shareholders?
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If you're in a card game and you can't figure out who the patsy is, you're it.
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We still find very few [stocks] that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.
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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’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.
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In some corner of the world they are probably still holding regular meetings of the Flat Earth Society. We derive no comfort because important people, vocal people, or great numbers of people agree with us. Nor do we derive comfort if they don't.
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I buy expensive suits - they just look cheap on me.
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I am not in the business of predicting general stock market of business fluctuations. If you think I can do this, or think it is essential to an investment program, you should not be in the partnership.
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You do not adequately protect yourself by being half awake when other are sleeping.
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