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The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.

Warren Buffett

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

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It's never paid to bet against America. We come through things, but its not always a smooth ride.
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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
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At this point, when treasury bills, seven day treasury bills at 1/20th of one percent, it's not because people want to earn 1/20th of one percent, it's because they trust the fact the treasury will give it back to them next week.
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When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you. That’s the ultimate test of how you’ve lived your life.
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In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.
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A lot of people disagree with me on this, I believe in mark to market.
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The trick is, when there is nothing to do, do nothing.
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If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.
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If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.
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I always say that in investing you want to buy stock in a company that has a business that's so good that an idiot can run it, because sooner or later one will. We have a country like that.
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The plan itself is opportunism. There is no plan before that.
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A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.
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I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?
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If past history was all there was to the game, the richest people would be librarians.
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Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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If you want to shoot rare, fast-moving elephants, you should always carry a loaded gun.
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Only when you combine sound intellect with emotional discipline do you get rational behavior.
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We would do best in a market where everyone acted foolishly.
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We try to buy businesses with good-to-superb underlying economics run by honest and able people and buy them at sensible prices. That's all I'm trying to do.
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It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.
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