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People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Crazy
Bulbs
Went
Stocks
Getting
Bubble
Back
Bubbles
Firsts
Sea
First
South
People
Internet
Tulip
Started
Uranium

More quotes by Warren Buffett

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I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today.
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Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you're still around to play the next day.
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Wide diversification is only required when investors do not understand what they are doing.
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Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.
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It is easier to rationalize than it is to be 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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It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.
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The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.
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It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.
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AIG would be doing fine today. It was one of the ten largest companies in the United States in terms of market value, over 200 billion, the most respected insurer and everything in the world.
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Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices
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It's just that right now the athlete's on the floor. But we - this is a super athlete.
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I make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.
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Our favorite holding period is forever.
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You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.
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The purpose of life is to be loved by as many people as possible among those you want to have love you
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We have long felt that the only value of stock forecasters is to make fortune-tellers look good.
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I've never been very fully employed either.
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It is not necessary to do extraordinary things to get extraordinary results.
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I think the biggest thing we need is to unclog the credit markets, and we may need another stimulus - if we do, it's - it should go to the lower and middle-income people.
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