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It's going to be tough because the economy is going to be getting worse for a while. And it might fall off a cliff if this doesn't pass. But nobody will ever know that if it does.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Fall
Cliff
Doesn
Cliffs
Doe
Pass
Ever
Worse
Might
Tough
Going
Nobody
Economy
Getting

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I always invest in companies an idiot could run, because one day one will.
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We can afford to lose money - even a lot of money. But we can't afford to lose reputation - even a shred of reputation.
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Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
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I think it will get moving faster. I mean once you get it off the - once credit flows - now the recession is going to get worse.
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I've made money over the years by buying into good companies, run by good people, at attractive prices. And I don't try and make it out of buying into the market at one point and selling at another point.
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People always should know better. People don't get - they don't get smarter about things that get as basic as greed.
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If you don’t feel comfortable making a rough estimate of the asset’s future earnings, just forget it and move on. No one has the ability to evaluate every investment possibility. But omniscience isn’t necessary you only need to understand the actions you undertake.
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First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.
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Buy companies with strong histories of profitability and with a dominant business franchise.
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Take the job you would take if you were independently wealthy. You're going to do well at it.
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Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
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Enjoy your work and work for whom you admire.
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Investing is not as tough as being a top-notch bridge player. All it takes is the ability to see things as they really are.
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The secret to happiness is having low expectations.
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It irritates the hell out of me but you can't buy love.
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
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Just imagine living on 21,000 a year. I mean you have 20 percent of the population doing that. So you don't have to worry about guys like me.
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