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Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Knowing
Important
Think
Thinking
Competency
Competencies
Edge
Edges
Trouble

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No matter how great the talent or efforts, some things just take time.
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You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right - that's the only thing that makes you right. And if your facts and reasoning are right, you don't have to worry about anybody else.
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Enjoy your work and work for whom you admire.
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Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
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I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.
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I don't like what's going on with the executive compensation.
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Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics.
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That's the reality of what they're going to sell them to the Treasury for.
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The Stock Market is designed to transfer money from the Active to the Patient.
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You need a lot of curiosity for a long, long time.
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Every day that goes by, I mean, if you don't react to Pearl Harbor for a week or two weeks or three weeks, you're behind in the war that you otherwise would have fought.
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Making money isn't the backbone of our guiding purpose making money is the by-product of our guiding purpose. If you're doing something you love, you're more likely to put your all into it, and that generally equates to making money
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Life is like a snowball. The important thing is finding wet snow and a really long hill.
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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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I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.
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The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.
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I did not think I would see the day when, you know, an AIG would not be able to have its checks clear.
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A lot of people disagree with me on this, I believe in mark to market.
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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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We do not have, nor have had, and never will have an opinion about where the stock market, interest rates, or business activity will be a year from now.
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