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You can lose leverage, and it's the only way a smart guy can go broke.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Way
Leverage
Broke
Smart
Lose
Loses
Guy

More quotes by Warren Buffett

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If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.
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The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
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There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.
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All day you wait for the pitch you like then when the fielders are asleep, you step up and hit it.
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Look for companies with high profit margins.
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Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
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Never do anything in life if you would be ashamed of seeing it printed on the front page of your hometown newspaper for your friends and family to see.
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The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.
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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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If I subscribed to the efficient market theory I would still be delivering papers
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You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.
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You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it.
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In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.
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So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.
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Cultivate curiosity and strive to become a little wiser every day.
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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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Don't risk what is important to you, to get what is not important to you.
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If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.
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The three most important words in investing...Margin of Safety.
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In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts the Depression a dozen or so recessions and financial panics oil shocks a flu epidemic and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
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