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We look for things I can understand. A lot of businesses I don't understand.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Businesses
Understand
Look
Looks
Things

More quotes by Warren Buffett

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The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
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Taking jobs to build up your resume is the same as saving up sex for old age.
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The stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch.
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Failing conventionally is the route to go as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press
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Do not take yearly results too seriously. Instead, focus on four or five-year averages.
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Focus on return on equity, not earnings per share.
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Does the business have favourable long term prospects?
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But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things.
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Does management resist the institutional imperative?
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The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.
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The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.
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The value of a business is the cash it's going to produce in the future.
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With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock
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The only way to get love is to be lovable. It's very irritating if you have a lot of money. You'd like to think you could write a check: I'll buy a million dollars' worth of love. But it doesn't work that way. The more you give love away, the more you get.
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The best investment you can make is in yourself.
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Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused you sell to him, and if he gets depressed, you buy from him. There's no moral taint attached to that.
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Calculate owner earnings to get a true reflection of value.
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I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me.
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I have three boxes on my desk: In, Out, and Too Hard.
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The investor of today does not profit from yesterday's growth.
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