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There's not many businesses where someone can come in and offer to cut the price in half and somebody doesn't think about shifting. But that's the nature of the ratings business.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Someone
Price
Come
Offers
Many
Cutting
Think
Somebody
Ratings
Thinking
Half
Rating
Business
Shifting
Doesn
Businesses
Nature
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Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.
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... it's important to have the right monetary policy. It's important for, to have the right fiscal policy. But it's nowhere near as important as just the normal regenerative capacity of American capitalism.
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Never depend on a single source of income.
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It's a lot easier to buy things than it is to sell them.
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Sound investing can make you very wealthy if you're not in too big a hurry
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Exercise humility and restraint.
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In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.
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I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?
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It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.
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If you owe money, you can't pay them out. You just pay for everything, you do smart things, you eventually get very rich.
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When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
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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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A very rich person should leave his kids enough to do anything, but not enough to do nothing.
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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 Noah rule: Predicting rain doesn't count building arks does.
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If, when making a stock investment, you're not considering holding it at least ten years, don't waste more than ten minutes considering it.
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House prices just soared beyond - beyond reason in many places and they got financed in silly ways, and people lied about loans, all kinds of accesses entered into it. But that is what - that is the single biggest cause of why we're here.
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Asset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
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Chains of habit are too light to be felt until they are too heavy to be broken.
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In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.
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