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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
Trying
Concentrate
Essentially
John
Market
Figure
Figures
Understand
Business
Keynes

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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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On his Giving Pledge philanthropy: The way I got the message out was to get a copy of FORBES, look down that 400 list and start making phone calls! Bill and Melinda [Gates] did the same thing. So keep publishing the list so I can milk it.
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Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.
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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.
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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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We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as focused investing.
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If you can't read the scoreboard. You don't know the score. If you don't know the score, you can't tell the winners from the losers.
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I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
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Does management resist the institutional imperative?
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The best asset is your own self. You can become to an enormous degree the person you want to be
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The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.
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I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life.
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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.
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Activity is the enemy of investment returns.
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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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Too often, a vast collection of possessions ends up possessing its owner.
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I don't really think that, as a society, we [americans] want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
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Don't invest in pieces of papers (stocks), invest in great businesses underlying them
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When you're associating with the people that you love, doing what you love, it doesn't get any better than that.
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We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
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