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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
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Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett

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If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.
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I never try to predict the market.
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Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.
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Writing a check separates a commitment from a conversation.
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On his Giving Pledge philanthropy: The way I got the message out was to get a copy of FORBES, look down that 400 list and start making phone calls! Bill and Melinda [Gates] did the same thing. So keep publishing the list so I can milk it.
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You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.
Warren Buffett
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Does the business have a consistent operating history?
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The stockmarket is a semi-psychotic creature given to extremes of elation and despair.
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Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices
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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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Focus on return on equity, not earnings per share.
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Never depend on single income. Make investment to create a second source.
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You should invest in a business that even a fool can run, because someday a fool will.
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Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.
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it's a good idea to review past mistakes before committing new ones.
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The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves - and the better the teacher, the better the student body.
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Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.
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I have three boxes on my desk: In, Out, and Too Hard.
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You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.
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