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You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Imitator
Innovators
Idiots
Progression
Idiot
Call
Natural
Three
Imitators
More quotes by Warren Buffett
Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
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A stock doesn't know that you own it.
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I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.
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Do what you would do for free, having passion for what you do is the most important thing.
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If horses had controlled investment decisions, there would have been no auto industry.
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I think people - what people want to do is make [economy] get worse.
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I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
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When the brothel burns down, even the pretty girls have to run out.
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I always say that in investing you want to buy stock in a company that has a business that's so good that an idiot can run it, because sooner or later one will. We have a country like that.
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When investing, pessimism is your friend, euphoria the enemy.
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Government can't deliver a free lunch to the country as a whole. It can, however, determine who pays for lunch. And last week the Senate handed the bill to the wrong party... the poor and middle class.
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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
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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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I think the worst mistake you can make in stocks is to buy or sell based on current headlines.
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Always invest for the long term.
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I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood in fact, if it occurswe will be selling life jackets to the unprepared.
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John Maynard Keynes essentially said, don't try and figure out what the market is doing. Figure out a business you understand, and concentrate.
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I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.
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The thing to do is to keep your mind when the world around you is losing theirs.
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In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.
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