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You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Possible
Hypotheses
Knowledge
Transactions
Facts
Conservatism
True
Hypothesis
Reason
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More quotes by Warren Buffett

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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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Truly conservative actions arise from intelligent hypotheses, correct facts and sound reasoning.
Warren Buffett
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America should stand for more than just wealth.
Warren Buffett
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We've got a wonderful economic formula in this country.
Warren Buffett
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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.
Warren Buffett
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I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.
Warren Buffett
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We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
Warren Buffett
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If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing.
Warren Buffett
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... not doing what we love in the name of greed is very poor management of our lives.
Warren Buffett
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Inflation could be a very - is a likely consequence out of what's going on now.
Warren Buffett
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If I subscribed to the efficient market theory I would still be delivering papers
Warren Buffett
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Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.
Warren Buffett
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That's the reality of what they're going to sell them to the Treasury for.
Warren Buffett
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I asked him what he wanted to do for his career, and he replied that he wanted to go into a particular field, but thought he should work for McKinsey for a few years first to add to his resume. To me that's like saving sex for your old age. It makes no sense.
Warren Buffett
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Don't invest in pieces of papers (stocks), invest in great businesses underlying them
Warren Buffett
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I never invest in anything that I don't understand.
Warren Buffett
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It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Warren Buffett
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I don't have my diploma from the University of Nebraska hanging on my office wall, and I don't have my diploma from Columbia up there either-but I do have my Dale Carnegie graduation certificate proudly displayed.
Warren Buffett
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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.
Warren Buffett
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I would say the most satisfying thing actually is watching my three children each pick up on their own interests and work many more hours per week than most people that have jobs at trying to intelligently give away that money in fields that they particularly care about.
Warren Buffett