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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
Market
Figure
Figures
Understand
Business
Keynes
Trying
Concentrate
Essentially
John

More quotes by Warren Buffett

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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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In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
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Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.
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AIG would be doing fine today. It was one of the ten largest companies in the United States in terms of market value, over 200 billion, the most respected insurer and everything in the world.
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Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
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I view derivatives as time bombs, both for the parties that deal in them and the economic system.
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The nature of democracy is such that when there's - there'll be revulsion, obviously, towards - that's never going to happen again.
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The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
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If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.
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Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you're still around to play the next day.
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Only when the tide goes out do you discover who's been swimming naked.
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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
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Fund consultants like to require style boxes such as long-short, macro, international equities. At Berkshire our only style box is smart.
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In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen. I think that things were clear during the bubble as to what would happen eventually.
Warren Buffett
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
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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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If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
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I have a house that I bought 55 years ago. It's warm in the winter it's cool in the summer. It has everything I wanted, plus it has all kinds of good memories. Like my kids, I have good thoughts about that. I can't imagine living any better.
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Cash, though, is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent... When bills come due, only cash is legal tender. Don't leave home without it.
Warren Buffett