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In the great majority of cases we simply do not know enough about the industry or company to come to sensible judgments-in that situation we pass.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Enough
Majority
Great
Judgment
Industry
Cases
Simply
Situation
Judgments
Company
Sensible
Come
Pass

More quotes by Warren Buffett

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Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are.
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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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We look for things I can understand. A lot of businesses I don't understand.
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I've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.
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Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.
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Life is like a snowball. The important thing is finding wet snow and a really long hill.
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Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.
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Time is your friend, impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market.
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If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.
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Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
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AIG would be doing fine today. It was one of the ten largest companies in the United States in terms of market value, over 200 billion, the most respected insurer and everything in the world.
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We've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's 9 percent of GDP. That is stimulative as all get out. It's more stimulative than any policy we've followed since World War II.
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Things you like to do should be a hobby of yours, but things the world does should be a business of yours.
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We're still in a recession. We're not gonna be out of it for a while, but we will get out.
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We've had public companies in the past in that business and they bleed. We've got a lot more blood than they do.
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The important thing is to keep playing, to play against weak opponents and to play for big stakes.
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I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up.
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The dominant factors affecting control valuations are earning power (past and prospective) and asset values.
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I have never been able to understand why the tax comes as such a body blow to many people since the rate on long-term capital gain is lower than on most likes of endeavor (tax policy indicated digging ditches is regarded as socially less desirable than shuffling stock certificates).
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Let blockheads read what blockheads wrote.
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