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I have always cautioned partners that I considered three years a minimum in determining whether we were performing.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Three
Years
Cautioned
Always
Determining
Minimum
Partners
Performing
Considered
Whether

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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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The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.
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I have a house that I bought 55 years ago. It's warm in the winter it's cool in the summer. It has everything I wanted, plus it has all kinds of good memories. Like my kids, I have good thoughts about that. I can't imagine living any better.
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Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?
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The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.
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I don't try and guess when to get in and out of the market. I have owned stocks consistently since 1942. I owned the - I was buying stocks the day before the election. I was buying the same stocks the day after election. And if Hillary had been elected, it would have been the same thing.
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With housing it's something even more dramatic than that, because most people aspire to own their own home.If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year.That's not true of an Internet stock. But it's true of a home.
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