Quote

When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Motion
Started
Crazy
Went
Dominoes
Real
Toppling
Things
Residential
Estate
Estates

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You should look at stocks as small pieces of business.
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The stockmarket is a semi-psychotic creature given to extremes of elation and despair.
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
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Diversification is protection against ignorance. It makes little sense if you know what you are doing.
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In economics, you always want to ask 'And then what?'
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I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.
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A hyperactive stock market is the pickpocket of enterprise.
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When you're associating with the people that you love, doing what you love, it doesn't get any better than that.
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Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.
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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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I certainly have no desire to sell a good controlled business run by people I like and admire, merely to obtain a fancy price. However, specific conditions may cause the sale of one operating unit at some point.
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In the great majority of cases we simply do not know enough about the industry or company to come to sensible judgments-in that situation we pass.
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It is not necessary to do extraordinary things to get extraordinary results.
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The best thing I did was choose the right heroes.
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I’ve never believed in risking what my family and friends have and need in order to pursue what they don’t have and don’t need.
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You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.
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Never invest in a business you can't understand
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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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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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Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.
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