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If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
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Competitors
Terrible
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More quotes by Warren Buffett

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The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
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I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.
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Buy companies with strong histories of profitability and with a dominant business franchise.
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The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we invest in stocks, we invest in businesses.
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If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.
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Your premium brand had better be delivering something special, or it's not going to get the business.
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With housing it's something even more dramatic than that, because most people aspire to own their own home.If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year.That's not true of an Internet stock. But it's true of a home.
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When they get their ego involved, people do things they shouldn't do.
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If you're in a card game and you can't figure out who the patsy is, you're it.
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A bull market is like sex. It feels best just before it ends.
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Knowing what to leave out is just as important as knowing what to focus on.
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In the end we must have people to match our principles, not the reverse.
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A hyperactive stock market is the pickpocket of enterprise.
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Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.
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The difference between successful people and really successful people is that really successful people say no to almost everything.
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Never depend on a single source of income.
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I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
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The U.S. Treasury has got borrowing costs like nobody else has.
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The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.
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