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A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Follow
Approach
Rather
Polling
Thinking
Required
Crowd
Crowds
Foolish
Strategy

More quotes by Warren Buffett

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Investing is not as tough as being a top-notch bridge player. All it takes is the ability to see things as they really are.
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I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?
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If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.
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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
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So smile when you read a headline that says Investors lose as market falls. Edit it in your mind to Disinvestors lose as market falls-but investors gain. Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: Every putt makes someone happy.
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Cultivate curiosity and strive to become a little wiser every day.
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I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
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What the wise do in the beginning, fools do in the end.
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Read 500 pages every day. That's how knowledge works. It builds up like compound interest.
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The patient that's on the floor with the cardiac arrest is not Wall Street. It's the American economy.
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We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20 trillion, I should say, worth of residential homes.
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Buy into a company because you want to own it, not because you want the stock to go up.
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Focus on your customers and lead your people as though their lives depend on your success.
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The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.
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The secret to happiness is having low expectations.
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I think the FDIC was one of the great inventions of the American.
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To win, the first thing you have to do is not lose.
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The only way to be loved is to be loveable, which really irritates me.
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One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.
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If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.
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