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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.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
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Warren Edward Buffett
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More quotes by Warren Buffett

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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
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At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.
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We need a tax system that essentially takes very good care of the people who just really aren't as well adapted to the market system but are nevertheless doing useful things in the society.
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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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I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.
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I don't really think that, as a society, we [americans] want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
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At this point, when treasury bills, seven day treasury bills at 1/20th of one percent, it's not because people want to earn 1/20th of one percent, it's because they trust the fact the treasury will give it back to them next week.
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When people talk about cash being king, it's not king if it just sits there and never does anything.
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I wouldn’t mind going to jail if I had three cellmates who played bridge
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Our approach is very much profiting from lack of change rather than from change.
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Tell me your heroes and I'll tell you how your life will end up
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Investment must be rational if you can't understand it, don't do it.
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When bills come due, only cash is legal tender. Don't leave home without it.
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I don't measure my life by the money I've made. Other people might, but certainly don't.
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Investors... can't pick stocks that are better than average. Stocks are a good thing to own over time. There's only two things you can do wrong: You can buy the wrong ones, and you can buy or sell them at the wrong time. And the truth is you never need to sell them.
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Does the business have favourable long term prospects?
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An investor needs to do very few things right as long as he or she avoids big mistakes.
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If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.
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I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board.
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Observing that the market was FREQUENTLY efficient, EMT Adherents went on to conclude incorrectly that it was ALWAYS efficient. The difference between these propositions is night and day.
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