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I don't want to hold out false hopes that the - by some magic moment, that things will turn around in a couple months because they wouldn't, Charlie. I mean, and it's a big mistake to try and mislead people.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
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Warren Edward Buffett
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More quotes by Warren Buffett

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I measure success by how many people love me. And the best way to be loved is to be lo veable.
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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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The advice you never go broke taking a profit is foolish.
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When Berkshire buys common stock, we approach the transaction as if we were buying into a private business.
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When the president of the United States goes out at, you know, 8:00 o'clock in the morning and then his own party votes gets him 2 to 1 in the house, you know that somehow a message isn't getting out. It takes real leadership.
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It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
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Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.
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Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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Would you rather be the world's greatest lover, but have everyone think you're the world's worst lover? Or would you rather be the world's worst lover but have everyone think you're the world's greatest lover? Now, that's an interesting question.
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My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.
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There seems to be some perverse human characteristic that likes to make easy things difficult.
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In the insurance business, there is no statute of limitation on stupidity.
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What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?
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An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business.
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No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics crazy. They can compute standard deviations and betas, but they can't understand moats.
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Fund consultants like to require style boxes such as long-short, macro, international equities. At Berkshire our only style box is smart.
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This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.
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The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.
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The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
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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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