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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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We're perfectly willing to trade away a big payoff for a certain payoff.
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Truly conservative actions arise from intelligent hypotheses, correct facts and sound reasoning.
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Investing is forgoing consumption now in order to have the ability to consume more at a later date.
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We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year.
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All day you wait for the pitch you like then when the fielders are asleep, you step up and hit it.
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If you don't know the Jewelry, know the Jeweller
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By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
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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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If you buy things you do not need, soon you will have to sell things you need.
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The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.
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I like to buy things I can understand. I do a lot of research on things.
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Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.
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The latter qualification brings to mind a fellow who applied for a job and stated he had twenty years of experience-which was corrected by a former employer to read one year's experience-twenty times.
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I have three boxes on my desk: In, Out, and Too Hard.
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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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... but the important thing is that when you do find one where you really do know what you are doing, you must buy in quantity.... Charlie and I have made a dozen or so very big decisions relative to net worth, although not as big as they should have been. And in each of those, we've known that we were almost certain to be right going in.
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Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: How many legs does a dog have, if you call a tail a leg? The answer: Four, because calling a tail a leg doesn't make it a leg.
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Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation
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The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.
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We continue to make more money when snoring than when active.
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