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In earlier years, a lesser effort produced literally dozens of comparable opportunities. It is difficult to be objective about the causes for such diminution of one's own productivity. Three factors that seem apparent are: (1) a somewhat changed market environment (2) our increased size and (3) substantially more competition.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Difficult
Size
Objective
Dozens
Three
Market
Dozen
Comparable
Seems
Seem
Produced
Lesser
Years
Environment
Objectives
Apparent
Changed
Literally
Increased
Effort
Factors
Productivity
Causes
Opportunities
Earlier
Diminution
Opportunity
Competition
Somewhat
Substantially

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If book knowledge made great investors, than the librarians would all be rich.
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I view derivatives as time bombs, both for the parties that deal in them and the economic system.
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I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing.
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Making money isn't the backbone of our guiding purpose making money is the by-product of our guiding purpose. If you're doing something you love, you're more likely to put your all into it, and that generally equates to making money
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The most dangerous distractions are the ones you love, but that don’t love you back.
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My father was the best person i've ever known.
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If you gave me the choice of being CEO of General Electric or IBM or General Motors, you name it, or delivering papers, I would deliver papers. I would. I enjoyed doing that. I can think about what I want to think. I don't have to do anything I don't want to do.
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The time to buy stocks is consistently over time. You should never buy your investments with the idea, 'I have to get a certain return.' You should look at the best return possible and learn to live with that. But you should not try to make your investments earn what you feel you need. It doesn't work that way. The stock doesn't know you own it.
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The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.
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We will only do with your money what we would do with our own.
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Time is the friend of the wonderful company, the enemy of the mediocre.
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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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In the world of business, the people who are most successful are those who are doing what they love.
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We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends.
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With a wonderful business, you can figure out what will happen you can't figure out when it will happen. You don't want to focus on when, you want to focus on what. If you're right about what, you don't have to worry about when
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Read 500 pages every day. That's how knowledge works. It builds up like compound interest.
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Never risk what you have and need for what we don't have and don't need.
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You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.
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I think I could make you fifty percent a year on one million dollars. No, I know I could. I guarantee that.
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