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I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.

Warren Buffett

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

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In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'
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If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.
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I put heavy weight on certainty. It's not risky to buy securities at a fraction of what they're worth.
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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 buy things you do not need, soon you will have to sell things you need.
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Observing that the market was FREQUENTLY efficient, EMT Adherents went on to conclude incorrectly that it was ALWAYS efficient. The difference between these propositions is night and day.
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Risk comes from not knowing what you're doing.
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I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.
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I've argued with the senators and congressmen I've talked to. You don't want to be too little too late. If you buy them at the right price, you may be buying two trillion of face value.
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The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.
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You can't produce a baby in one month by getting nine women pregnant.
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If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.
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I would say the biggest single cause was we had an incredible residential real estate bubble.
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If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game.
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You should invest like a Catholic marries: for life.
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Buy companies with strong histories of profitability and with a dominant business franchise.
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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.
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It irritates the hell out of me but you can't buy love.
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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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No matter how great the talent or efforts, some things just take time.
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