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Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Derivatives
Sleeping
Sex
Sleep
Problem
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More quotes by Warren Buffett

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There is no perfect mathematical formula for pricing a business.
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I have this complicated procedure I go through every morning, which is to look in the mirror and decide what I'm going to do. And I feel at that point, everybody's had their say.
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The best business returns are usually achieved by companies that are doing something quite similar today to what they were doing five or ten years ago.
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You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress.
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You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it.
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Focus alone is not enough putting in the time to commit is also crucial to achieve success.
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Be brave when others are afraid, and afraid when others are brave.
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It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.
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There is no staff. I make all the investment decisions and I do all my own analysis.
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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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Investing is the greatest business in the world because you never have to swing. You stand at the plate the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like then, when the fielders are asleep, you step up and hit it.
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Buy stocks like you buy your groceries, not like you buy your perfume.
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Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
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The U.S. Treasury has got borrowing costs like nobody else has.
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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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Businesses always have opportunities to improve service, product lines, manufacturing techniques, and the like, and obviously these opportunities should be seized. But a business that constantly encounters major change also encounters many chances for major error
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I think any time you couple the term Wall Street with bailout or something like that, you know - I don't like what's going on in Wall Street.
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Most business mistakes are irreversible setbacks, but you get another chance. There are two things in life that you don't get another chance at - marrying the wrong person and what you do with your children.
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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
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We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.
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