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Ignore the stock market, ignore the economy, and buy a business you understand.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Economy
Understand
Business
Stock
Ignore
Market

More quotes by Warren Buffett

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The reaction of weak management to weak operations is often weak accounting.
Warren Buffett
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Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.
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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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When investing, pessimism is your friend, euphoria the enemy.
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The most dangerous distractions are the ones you love, but that don’t love you back.
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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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Government can't deliver a free lunch to the country as a whole. It can, however, determine who pays for lunch. And last week the Senate handed the bill to the wrong party... the poor and middle class.
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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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When people tell me they've learned from experience, I tell them the trick is to learn from other people's experience.
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Investing is simple, but not easy.
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Wall Street makes its money on activity. You make your money on inactivity.
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We make investment decisions based on our evaluation of the most profitable combination of probabilities.
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It is not necessary to do extraordinary things to get extraordinary results.
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My favorite time frame for holding a stock is forever.
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How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
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Does management resist the institutional imperative?
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If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.
Warren Buffett
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Well, it may be all right in practice, but it will never work in theory
Warren Buffett