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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
Company
Sensible
Come
Pass
Enough
Majority
Great
Judgment
Industry
Cases
Simply
Situation
Judgments

More quotes by Warren Buffett

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In my opinion, the entire field of investment management, involving hundreds of billions of dollars, would be more satisfactorily conducted if everyone had a good yardstick for measurement of ability and sensibly applied it.
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During inflation, Goodwill is the gift that keeps on giving.
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We try to buy businesses with good-to-superb underlying economics run by honest and able people and buy them at sensible prices. That's all I'm trying to do.
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
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A home is one of the most important assets that most people will ever buy. Homes are also where memories are made and you want to work with someone you can trust.
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I like to buy things I can understand. I do a lot of research on things.
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Traditional wisdom is long on tradition and short on wisdom.
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Success in investing doesn’t correlate with I.Q. Once you are above the level of 25 once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.
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Do not take yearly results too seriously. Instead, focus on four or five-year averages.
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Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.
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You don't ever ask a barber whether you need a haircut.
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A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
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In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.
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When bills come due, only cash is legal tender. Don't leave home without it.
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Look for companies with high profit margins.
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I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I'd been born into a tribe of hunters, this talent of mine would be pretty worthless. I can't run very fast. I'm not particularly strong. I'd probably end up as some wild animal's dinner.
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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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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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The best investment you can make, is an investment in yourself... The more you learn, the more you'll earn.
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It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
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