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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
Crazy
Went
Dominoes
Real
Toppling
Things
Residential
Estate
Estates
Motion
Started

More quotes by Warren Buffett

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The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
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Nothing sedates rationality like large doses of effortless money.
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We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
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We still find very few [stocks] that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.
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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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Success in investing doesn’t correlate with I.Q. Once you are above the level of 25 once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.
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An investor should act as though he had a lifetime decision card with just twenty punches on it.
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You pay a very high price in the stock market for a cheery consensus.
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Wide diversification is only required when investors do not understand what they are doing.
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Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.
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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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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
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It irritates the hell out of me but you can't buy love.
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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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I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.
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The extraordinary business does not require good management.
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The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
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A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.
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The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.
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