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Wall Street makes its money on activity. You make your money on inactivity.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Make
Inactivity
Street
Activity
Streets
Wall
Makes
Money

More quotes by Warren Buffett

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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.
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We will only do with your money what we would do with our own.
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Beware of geeks bearing formulas.
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I think the worst mistake you can make in stocks is to buy or sell based on current headlines.
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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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I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.
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In the business world, the rearview mirror is always clearer than the windshield.
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The ability to say no is a tremendous advantage for an investor.
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We enjoy the process far more than the proceeds.
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I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board.
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You should invest in a business that even a fool can run, because someday a fool will.
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I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
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Somebody's buying these treasury bills at 1/20th of one percent. Consuming about $2 billion a day of goods and services beyond what we're producing. In other words, the rest of the world sends about $2 billion a day net of something.We got to send them something in return, don't we. So we send them little pieces of paper.
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You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not stocks, and if the business does all right over the long term, so will the stock.
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
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Knowing what to leave out is just as important as knowing what to focus on.
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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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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
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We've got more productive capacity now than we ever have.
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We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
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