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Stocks of companies selling commodity-like products should come with a warning label: Competition may prove hazardous to human wealth.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Humans
Selling
Come
Competition
Hazardous
Like
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Stocks
Prove
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Wealth
Commodity
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May
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Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
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The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.
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The latter qualification brings to mind a fellow who applied for a job and stated he had twenty years of experience-which was corrected by a former employer to read one year's experience-twenty times.
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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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Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich.
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You should invest like a Catholic marries: for life.
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[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
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Don't invest in pieces of papers (stocks), invest in great businesses underlying them
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Of our 49 billion, we haven't moved any to Bitcoin
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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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When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.
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Never invest in a business you can't understand
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There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.
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We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
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What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important knowing its boundaries, however, is vital.
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Chains of habit are too light to be felt until they are too heavy to be broken.
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Never depend on single income. Make investment to create a second source.
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Banking is very good business if you don't do anything dumb.
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We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are ignored.
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I don't measure my life by the money I've made. Other people might, but certainly don't.
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