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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
Guy
Way
Leverage
Broke
Smart
Lose
Loses

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The ability to say no is a tremendous advantage for an investor.
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Cultivate curiosity and strive to become a little wiser every day.
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Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
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You know ... you keep doing the same things and you keep getting the same result over and over again.
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The best thing I did was choose the right heroes.
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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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The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.
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Money will not change how healthy you are or how many people love you.
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If you can't read the scoreboard. You don't know the score. If you don't know the score, you can't tell the winners from the losers.
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I think the rest of the country should be paying less, the 95 percent that [Barack] Obama talks about or maybe even a little higher than that.
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I made my first investment at age eleven. I was wasting my life up until then.
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Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.
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Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.
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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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Exercise humility and restraint.
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The important thing is to keep playing, to play against weak opponents and to play for big stakes.
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My favorite time frame for holding a stock is forever.
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Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.
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Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.
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I always knew I was going to be rich. I don't think I ever doubted it for a minute.
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