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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
Sex
Sleep
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Derivatives
Sleeping

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Beware of geeks bearing formulas.
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In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.
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Nothing sedates rationality like large doses of effortless money.
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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 power of unconditional love. I mean, there is no power on earth like unconditional love.
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It's easy to identify many investment managers with great recent records. But past results, though important, do not suffice when prospective performance is being judged. How the record has been achieved is crucial.
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I am a better investor because I am a businessman, and a better businessman because I am no investor.
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You should invest like a Catholic marries: for life.
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We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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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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Buy into a company because you want to own it, not because you want the stock to go up.
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I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.
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Forecasts may tell you a great deal about the forecaster they tell you nothing about the future.
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At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.
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Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
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I get to do what I like to do every single day of the year.
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We don't read other people's opinions. We want to get the facts, and then think.
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I think the FDIC was one of the great inventions of the American.
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We have provided capital here with a couple of institutions recently. The Federal government did that in the '30s for the RFC and I think there could well be a proper role for government in that.
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If knowing history made you rich, librarians would be billionaires.
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