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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
Knowledge
Transactions
Facts
Conservatism
True
Hypothesis
Reason
Reasoning
Right
Correct
Many
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Hypotheses

More quotes by Warren Buffett

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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.
Warren Buffett
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Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
Warren Buffett
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We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.
Warren Buffett
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If a business does well, the stock eventually follows.
Warren Buffett
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You have hedge funds and people like that buying these assets to yield 15 or 20 percent, I mean, that's the buyer for these people that are trying to unload them.
Warren Buffett
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There's no use running if you're on the wrong road.
Warren Buffett
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Inactivity strikes us as intelligent behavior.
Warren Buffett
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Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.
Warren Buffett
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The Happiest people DO NOT necessarily have the BEST THINGS. They simply APPRECIATE the things they have.
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I certainly do believe anyone engaged in the management of money should have a standard of measurement, and that both he and the party whose money is managed should have a clear understanding why it is the appropriate standard, what time period should be utilized, etc.
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If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.
Warren Buffett
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A hyperactive stock market is the pickpocket of enterprise.
Warren Buffett
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I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.
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Do what you would do for free, having passion for what you do is the most important thing.
Warren Buffett
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All I have to do is think and not be influenced by others.
Warren Buffett
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A fool and his money are soon invited everywhere.
Warren Buffett
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I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing.
Warren Buffett
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People always should know better. People don't get - they don't get smarter about things that get as basic as greed.
Warren Buffett
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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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You should invest in a business that even a fool can run, because someday a fool will.
Warren Buffett