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If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
People
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Cinderella
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More quotes by Warren Buffett

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The rest of the world really likes our stuff pretty well. It's just we buy so damn much of what they produce.
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Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
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When we really sit back with a smile on our face is when we run into a situation we can understand, where the facts are ascertainable and clear, and the course of action obvious.
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In looking for people to hire, look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.
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First come the innovators, then come the imitators, then come the idiots.
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Be fearful when the markets get greedy, be greedy when the markets get fearful.
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I know what I want to do and it makes sense to get going.
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You have hedge funds and people like that buying these assets to yield 15 or 20 percent, I mean, that's the buyer for these people that are trying to unload them.
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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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Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.
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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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Don't settle for anything other than your passion - if you're lucky enough to find it.
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The truth is that I've got all my net worth safely in Berkshire and I will never sell a share so there is no one more concerned about what happens after my death than I am.
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I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
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We have embraced the 21st century by entering such cutting-edge industries as brick, carpet, insulation and paint. Try to control your excitement.
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While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.
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The greater the potential for reward in the value portfolio, the less risk there is.
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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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