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A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Lies
Bubble
Meet
Learns
Waiting
Bubbles
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Investors
Two
Eventually
Every
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More quotes by Warren Buffett

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The best thing I did was choose the right heroes.
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Exercise humility and restraint.
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The Fed is the greatest hedge fund in history.
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This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.
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What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important knowing its boundaries, however, is vital.
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When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
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The best education you can get is investing in yourself, and that doesn't mean college or university.
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It makes a difference who the treasury secretary is.
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We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
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It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.
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Be fearful when the markets get greedy, be greedy when the markets get fearful.
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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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Does management resist the institutional imperative?
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Never risk what you have and need for what we don't have and don't need.
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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
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When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.
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I think people - what people want to do is make [economy] get worse.
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People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.
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A diamond cannot be polished without friction, nor a person perfected without trials. Someone is enjoying shade today because someone planted a tree a long time ago.
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Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.
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