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Investing requires qualities of temperament way more than it requires qualities of intellect.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Way
Temperament
Qualities
Investing
Intellect
Requires
Quality

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Cash, though, is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent... When bills come due, only cash is legal tender. Don't leave home without it.
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The greatest Enemies of the Equity investor are Expenses and Emotions.
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The plan itself is opportunism. There is no plan before that.
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To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.
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The first rule is not to lose. The second rule is not to forget the first rule.
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
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In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.
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By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
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A stock doesn't know that you own it.
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Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
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If the reason for doing something is that everyone else is doing it, it's not a good enough reason.
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It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.
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The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.
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Larger sums may be an advantage at some cases and a disadvantage at others.
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When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.
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If you want to soar like an eagle in life, you can't be flocking with the turkeys.
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The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.
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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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Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.
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We've got more productive capacity now than we ever have.
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