Warren Buffett Quotes & Wallpapers

Warren Buffett
Total Quotes: 1001


Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised. Warren Buffett
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It's class warfare, my class is winning, but they shouldn't be. Warren Buffett
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You couldn't advance in a finance department in this country unless you taught that the world was flat. Warren Buffett
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I don't measure my life by the money I've made. Other people might, but certainly don't. Warren Buffett
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You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress. Warren Buffett
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It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble. Warren Buffett
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You do not adequately protect yourself by being half awake when other are sleeping. Warren Buffett
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A hyperactive stock market is the pickpocket of enterprise. Warren Buffett
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The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time. Warren Buffett
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The best investment you can make is in yourself Warren Buffett
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The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down. Warren Buffett
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The Stock Market is designed to transfer money from the Active to the Patient. Warren Buffett
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The rich invest in time, the poor invest in money. Warren Buffett
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Ben's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'? Warren Buffett
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When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a break requires - now or down the line - that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can however, determine who pays for lunch. Warren Buffett
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A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth. Warren Buffett
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Take the high road; it's far less crowded. Warren Buffett
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I can't promise results, but I can promise a common destiny. Warren Buffett
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We make investment decisions based on our evaluation of the most profitable combination of probabilities. Warren Buffett
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There is no question that an important service is provided to investors by investment companies, investment advisors, trust departments, etc. This service revolves around the attainment of adequate diversification, the preservation of a long-term outlook, the ease of handling investment decisions and mechanics, and most importantly, the avoidance of the patently inferior investment techniques which seem to entice some individuals. Warren Buffett
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People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves. Warren Buffett
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It is obvious that the performance of a stock last year or last month is no reason, per se, to either own it or to not own it now. It is obvious that an inability to "get even" in a security that has declined is of no importance. It is obvious that the inner warm glow that results from having held a winner last year is of no importance in making a decision as to whether it belongs in an optimum portfolio this year. Warren Buffett
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There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation. Warren Buffett
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I make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences. Warren Buffett
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Don't invest in pieces of papers (stocks), invest in great businesses underlying them Warren Buffett
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I'll bring my tax returns; you bring yours. I'll meet you anytime anywhere. Warren Buffett
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Goldman Sachs saying they might be interested in such an investment. I'm familiar with the company. I've known the management, the current management, Jack Welch before Jeff Immelt. I've known him for decades. Warren Buffett
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I understand Goldman Sachs businesses. We do lot of business with him, and GE has been - I think it's the longest running stock in the Dow Jones industrial average. It will be 100 years now it will be around. I hope I'm around then, too. And it was an attractive investment. And we have had a lot of money around, over the last two years, and we're seeing things that are attractive now. Warren Buffett
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We want to use cash. The reason we haven't used our cash two years ago, we just didn't find things that were that attractive. But when people talk about cash being king, it's not king if it just sits there and never does anything. There are times when cash buys more than other times, and this is one of the other times when it buys a fair amount more, so we use it. Warren Buffett
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In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now. Warren Buffett
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[People] have seen the credit market seize up. They're worried about money market funds, although the latest proposition from government should take care of that. They've seen eight percent of the bank deposits in the United States get moved very skillfully, I might say, within the last couple of weeks from institutions that they thought were fine a few months ago to other institutions. They are not wrong to be worried. Warren Buffett
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I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're feeling it. If you're a jewelry retailer, you're feeling it. I know some of these businesses because we're in them. Yeah, it's being felt, but it will be felt big time more if we don't do something about it, what's going on. Warren Buffett
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I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down. Warren Buffett
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[Economy] is flat on the floor, and the paramedics have arrived. And they shouldn't argue about whether they put the resuscitation equipment a quarter of an inch this way or a quarter of an inch this way, or they shouldn't start criticizing the patient, because he didn't have a blood pressure test or something like that. They should do what's needed right now. Warren Buffett
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I think the Congress will do the right thing. I think that they've - you know, they got into certain arguments and they start worrying about assessing blame, and there is a little demagoguery, but in the end, something this important, they'll do the right thing. So this really is an economic Pearl Harbor. That sounds melodramatic, but I've never used that phrase before. And this really is one. Warren Buffett
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When 40 billion of treasury bills are sold like, seven day treasury bills, at a yield of 1/20th of one percent, that means the whole country is basically at the point virtually, or a lot of the country is at the point of putting the money under the mattress. Warren Buffett
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You don't want 300 million Americans putting their money under the mattress. Warren Buffett
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This economy doesn't work well without the lubrication of credit and trust. Warren Buffett
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That's been lost. It's a huge problem. What you have is you have the major institutions of the world all wanting to deleverage. They want to take down their assets and liabilities. What seemed so easy to borrow against a year ago now looks like rat poison to them. So they're trying to deleverage. There is only one institution in the world that can leverage up in a way that's all a countervailing force to that, and that's the United States Treasury. Warren Buffett
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I think it's been, you know, kind of like a tragic play to this point. But at this point, I think it's clear, and will be clear to the majority of the Congress. I think it's clear to the American people that there is only one countervailing force to a world where financial institutions are trying to sell instruments every day and where credit has dried up, and that's the United States Treasury. Warren Buffett
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The patient that's on the floor with the cardiac arrest is not Wall Street. It's the American economy. Warren Buffett
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I think any time you couple the term "Wall Street" with "bailout" or something like that, you know - I don't like what's going on in Wall Street. Warren Buffett
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I don't like what's going on with the executive compensation. Warren Buffett
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I don't want to give a lecture to this body that's out there. You know, I mean, having had the heart attack, I want to get it back functioning. And as a practical matter, I mean if you were Bear Stearns, and you were a shareholder, you know, you lost 90 to 95 percent of your money. A good many lost their jobs. They lost very cushy lives, many of them. Warren Buffett
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If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it. Warren Buffett
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I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing. Warren Buffett
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I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing. Warren Buffett
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We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20 trillion, I should say, worth of residential homes. Warren Buffett
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Every day that goes by, I mean, if you don't react to Pearl Harbor for a week or two weeks or three weeks, you're behind in the war that you otherwise would have fought. Warren Buffett
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It's very important that the determination of the US Congress to do what is is needed be made evident this week and by the actions of most of the members. I mean, you're not going to get total assent. Warren Buffett
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I don't think you can have a better secretary of the Treasury than Hank Paulson. Warren Buffett
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I mean, Hank Paulson is in there [ Treasury] at the wrong time, probably shouldn't have taken the job. He's a friend of mine. But he knows markets, he knows corporations' work, he knows money, and he's got the interests of the country at heart. Warren Buffett
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You've got the right - you've got a wonderful person with Sheila Bair, most of the viewers have never heard of Sheila Bair. [She] has taken eight percent of the deposits in the United States and seamlessly moved those over to sound institutions which in turn have gotten more capital, ended up, it's been a magnificent job.She'll never get a golden parachute or any severance pay or anything. She's done a great job. We've got some great public servants. We have I think the right people in there to get the job done, and then they need more tools. Warren Buffett
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You have hedge funds and people like that buying these assets to yield 15 or 20 percent, I mean, that's the buyer for these people that are trying to unload them. Warren Buffett
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The U.S. Treasury has got borrowing costs like nobody else has. Warren Buffett
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[The U.S. Treasury] can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time. So when Merrill Lynch sells a bunch of mortgage-related assets at 22 cents on the dollar like they did a month or so ago, the buyer goes - is going to make money, and he's going to make a lot more money if it happens to be an institution like the U.S. government which has very, very cheap borrowing costs. Warren Buffett
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If I got a chance to take one percent of the deal either way, I would make that bet. Warren Buffett
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When Berkshire Hathaway laid out three billion dollars for GE today, we didn't spend it, we invested it. When the Federal government buys the mortgages, they're not spending it, they're investing it. Now, they're investing it in distress type assets but they're buying them at distress prices if they buy them at market. It's the kind of stuff I love to do. I just don't have 700 million. Maybe we could go in it together. Warren Buffett
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You know, with your money and my brains, I mean, there's no telling how far we'd go. Warren Buffett
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I'll take the deal, whatever you want to do. Warren Buffett
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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? Warren Buffett
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We have provided capital here with a couple of institutions recently. The Federal government did that in the '30s for the RFC and I think there could well be a proper role for government in that. Warren Buffett
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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. Warren Buffett
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That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing. So there are two things needed in the system, the one that's needed overwhelmingly is liquidity. I mean, when people are trying to [unintelligible], there has to be somebody there to buy. Warren Buffett
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity. Warren Buffett
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We've got a wonderful economic formula in this country. Warren Buffett
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It's the deleveraging that's going on right now that has caused the credit crisis. Warren Buffett
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AIG would be doing fine today. It was one of the ten largest companies in the United States in terms of market value, over 200 billion, the most respected insurer and everything in the world. Warren Buffett
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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. Warren Buffett
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I would say the biggest single cause was we had an incredible residential real estate bubble. Warren Buffett
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