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If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching 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
Recognizing
Circle
Circles
Strength
Within
Perimeter
Wells
Approaching
Well
Operating
Competence

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Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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Chains of habit are too light to be felt until they are too heavy to be broken.
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Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.
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Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are.
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A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.
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All but a few of the organizations do not specifically promise to deliver superior investment performance although it is perhaps not unreasonable for the public to draw such an inference from their advertised emphasis on professional management.
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Fund consultants like to require style boxes such as long-short, macro, international equities. At Berkshire our only style box is smart.
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You know, with your money and my brains, I mean, there's no telling how far we'd go.
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You don't have to be a genius to invest well
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I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?
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Our marketable equities tell us by their operating results - not by their daily, or even yearly, price quotations - whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it.
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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.
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If I subscribed to the efficient market theory I would still be delivering papers
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[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
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Energy deregulation will be the largest transfer of wealth in history.
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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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If book knowledge made great investors, than the librarians would all be rich.
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In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.
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It's just that right now the athlete's on the floor. But we - this is a super athlete.
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You can't buy what is popular and do well.
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