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This economy doesn't work well without the lubrication of credit and trust.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Well
Work
Lubrication
Credit
Trust
Economy
Doesn
Wells
Without

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People should always know better.
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Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.
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Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.
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I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.
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If you're in a card game and you can't figure out who the patsy is, you're it.
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I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
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We don't get paid for being busy, we get paid for being right.
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We also believe candour benefits us as managers. The CEO who misleads often in public eventually misleads himself in private.
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I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.
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My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.
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When 40 billion of treasury bills are sold like, seven day treasury bills, at a yield of 1/20th of one percent, that means the whole country is basically at the point virtually, or a lot of the country is at the point of putting the money under the mattress.
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Every company that has an economist working for him has one employee too many.
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You're dealing with a lot of silly people in the marketplace it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be OK.
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I would say it's more important who the treasury secretary is than who the vice president is. If you want to have a debate here, I'd like a debate between potential treasury secretaries than the vice presidential debate.
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I bought a company in the mid-90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
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Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.
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We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'
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Is management candid with the shareholders?
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You don't want 300 million Americans putting their money under the mattress.
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If you buy things you do not need, soon you will have to sell things you need.
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