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Basically, the single-most important decision in evaluating a business is pricing power.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Decision
Business
Power
Important
Evaluating
Pricing
Basically
Single

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A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.
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In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen. I think that things were clear during the bubble as to what would happen eventually.
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We will reject interesting opportunities rather than over-leverage our balance sheet.
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Businesses always have opportunities to improve service, product lines, manufacturing techniques, and the like, and obviously these opportunities should be seized. But a business that constantly encounters major change also encounters many chances for major error
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I know what I want to do and it makes sense to get going.
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Charlie and I have a number of filters that things have to get through before we'll think about them.
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We always live in an uncertain world. What is certain is that the United States will go forward over time.
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Focus on your customers and lead your people as though their lives depend on your success.
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The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
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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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We look for things I can understand. A lot of businesses I don't understand.
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[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
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Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.
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I've often felt there might be more to be gained by studying business failures than business successes.
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The rich invest in time, the poor invest in money.
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Never risk what you have and need for what we don't have and don't need.
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I get to do what I like to do every single day of the year.
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When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
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I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp.
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We've actually been pretty good on exports. I mean we are exporting 12% of our GDP now roughly.
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