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For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Pay
Values
Rather
Action
Reason
Cues
Take
Buffets
People
Price
Value

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An investor needs to do very few things right as long as he or she avoids big mistakes.
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The smartest side to take in a bidding war is the losing side.
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Money will not change how healthy you are or how many people love you.
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You can be sure that over the next 10 years, you'll see something that you did not think was possible.
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Learning how to live is much more important than learning how to make a living.
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The difference between successful people and really successful people is that really successful people say no to almost everything.
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Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: How many legs does a dog have, if you call a tail a leg? The answer: Four, because calling a tail a leg doesn't make it a leg.
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The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.
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The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves - and the better the teacher, the better the student body.
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The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.
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Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
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Beware [of] the investment activity that produces applause the great moves are usually greeted by yawns.
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We don't get paid for being busy, we get paid for being right.
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The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.
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The 19th century belonged to England, the 20th century belonged to the U.S., and the 21st century belongs to China. Invest accordingly.
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You can't make a good deal with a bad person.
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We intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.
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Risk comes from not knowing what you're doing.
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Your premium brand had better be delivering something special, or it's not going to get the business.
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We only want to link up with people whom we like, admire, and trust. ... We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.
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