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I did not think I would see the day when, you know, an AIG would not be able to have its checks clear.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Would
Think
Thinking
Checks
Clear
Able

More quotes by Warren Buffett

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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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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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We also believe candour benefits us as managers. The CEO who misleads often in public eventually misleads himself in private.
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A hyperactive stock market is the pickpocket of enterprise.
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The truth is, everything that has happened in my life... that I thought was a crushing event at the time, has turned out for the better.
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Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.
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With a wonderful business, you can figure out what will happen you can't figure out when it will happen. You don't want to focus on when, you want to focus on what. If you're right about what, you don't have to worry about when
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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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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 most common cause of low prices is pessimism - some times pervasive, some times 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. It's optimism that is the enemy of the rational buyer.
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If book knowledge made great investors, than the librarians would all be rich.
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You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.
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Time is your friend, impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market.
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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
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You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it.
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I may have more money than you, but money doesn't make the difference. If there is any difference between you and me, it may simply be that I get up and have a chance to do what I love to do, every day. If you learn anything from me, this is the best advice I can give you.
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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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That's the reality of what they're going to sell them to the Treasury for.
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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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With enough insider information and a million dollars, you can go broke in a year.
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