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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
Lessons
Pins
Lies
Bubble
Meet
Learns
Waiting
Bubbles
Lying
Investors
Two
Eventually
Every
Wave
Wait

More quotes by Warren Buffett

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The market system rewards me outlandishly for what I do, but that doesn't mean I'm any more deserving of a good life than a teacher or a doctor or someone who fights in Afghanistan.
Warren Buffett
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I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.
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In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.
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I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones.
Warren Buffett
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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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Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.
Warren Buffett
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Never invest in a business you can't understand
Warren Buffett
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America should stand for more than just wealth.
Warren Buffett
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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.
Warren Buffett
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We've had public companies in the past in that business and they bleed. We've got a lot more blood than they do.
Warren Buffett
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It is unquestionably true that the investment companies have their money more conventionally invested than we do. To many people conventionality is indistinguishable from conservatism. In my view, this represents erroneous thinking. Neither a conventional nor an unconventional approach, per se, is conservative.
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The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
Warren Buffett
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Other guys read Playboy. I read annual reports.
Warren Buffett
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I know what I want to do and it makes sense to get going.
Warren Buffett
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It is more important to say no to an opportunity, than to say yes.
Warren Buffett
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Someone is sitting in the shade today because someone planted a tree a long time ago.
Warren Buffett
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I'm just lucky to have been in the right place at the right time. Another place, another time, I wouldn't have been as successful. Society enabled me to make my money and my money should go to society.
Warren Buffett
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While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.
Warren Buffett
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I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
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A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.
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