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John Maynard Keynes essentially said, don't try and figure out what the market is doing. Figure out a business you understand, and concentrate.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Business
Keynes
Trying
Concentrate
Essentially
John
Market
Figure
Figures
Understand

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I know that Congress will do the right thing.
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I’ve never believed in risking what my family and friends have and need in order to pursue what they don’t have and don’t need.
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If you don’t feel comfortable making a rough estimate of the asset’s future earnings, just forget it and move on. No one has the ability to evaluate every investment possibility. But omniscience isn’t necessary you only need to understand the actions you undertake.
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Do not take yearly results too seriously. Instead, focus on four or five-year averages.
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We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends.
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The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.
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Writing a check separates a commitment from a conversation.
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The important thing is to keep playing, to play against weak opponents and to play for big stakes.
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We like to buy businesses, but we don't like to sell them.
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A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.
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A fool and his money are soon invited everywhere.
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I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
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I certainly have no desire to sell a good controlled business run by people I like and admire, merely to obtain a fancy price. However, specific conditions may cause the sale of one operating unit at some point.
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
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The best investment you can make is in yourself.
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The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.
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You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it.
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It's much easier to stay out of trouble now than to get out of trouble later.
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It's a lot easier to buy things than it is to sell them.
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I make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.
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