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We all make mistakes. If you can't make mistakes, you can't make decisions. I've made a lot bigger mistakes myself.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Decisions
Mistakes
Bigger
Mistake
Decision
Made
Make

More quotes by Warren Buffett

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There is seldom just one cockroach in the kitchen. You know, you turn on the light and, all of sudden, they all start scurrying around.
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Does management resist the institutional imperative?
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The same things happen to quite an extent around the globe. I mean, the European banks were doing what the American banks were.
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Tell me your heroes and I'll tell you how your life will end up
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In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'
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Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.
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Would you rather be the world's greatest lover, but have everyone think you're the world's worst lover? Or would you rather be the world's worst lover but have everyone think you're the world's greatest lover? Now, that's an interesting question.
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We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are ignored.
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So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.
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We don't have to be smarter than the rest. We have to be more disciplined than the rest.
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The financial calculus that Charlie and I employ would never permit our trading a good night's sleep for a shot at a few extra percentage points of return. I've never believed in risking what my friends and family have and need in order to pursue what they don't have and don't need.
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Investment must be rational if you can't understand it, don't do it.
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If past history was all there was to the game, the richest people would be librarians.
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By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
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Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused you sell to him, and if he gets depressed, you buy from him. There's no moral taint attached to that.
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I have always cautioned partners that I considered three years a minimum in determining whether we were performing.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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I don't read economic forecasts. I don't read the funny papers.
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There seems to be some perverse human characteristic that likes to make easy things difficult.
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There's nothing inappropriate about having debt in America. It's what helped us grow over time. And it's when debt gets out of control that you worry.
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