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I always invest in companies an idiot could run, because one day one will.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Invest
Idiot
Companies
Company
Running
Always

More quotes by Warren Buffett

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I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.
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The best asset is your own self. You can become to an enormous degree the person you want to be
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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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You don't need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well.
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I made my first investment at age eleven. I was wasting my life up until then.
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The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.
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Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like.
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Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
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I've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.
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Does management resist the institutional imperative?
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I'm the luckiest guy in the world in terms of what I do for a living. No one can tell me to do things I don't believe in or things I think are stupid.
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It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
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The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
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Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.
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Do what you love and work for whom you admire the most, and you've given yourself the best chance in life you can.
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Never give up searching for the job that you're passionate about.
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I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.
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I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
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My friends and I have been coddled long enough by a billionaire-friendly Congress.
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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.
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