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Investing in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the cards.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Good
Market
Like
Playing
People
Told
Doesn
Bridge
Someone
Efficiency
Look
Bridges
Looks
Investing
Believe
Cards

More quotes by Warren Buffett

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We don't get paid for being busy, we get paid for being right.
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I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board.
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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.
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In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.
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I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.
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The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.
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For some reason, people take their cues from price action rather than from values. What doesn't work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up.
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It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.
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People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.
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The truth is that I've got all my net worth safely in Berkshire and I will never sell a share so there is no one more concerned about what happens after my death than I am.
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We're perfectly willing to trade away a big payoff for a certain payoff.
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It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.
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Honesty is a very expensive gift, Don't expect it from cheap people.
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The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.
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I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.
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There is no perfect mathematical formula for pricing a business.
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When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a break requires - now or down the line - that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can however, determine who pays for lunch.
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If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.
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I'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up.
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What the wise do in the beginning, fools do in the end.
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