Warren Buffett Quotes & Wallpapers

Warren Buffett
Total Quotes: 1001


But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things. Warren Buffett
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And people really behaved in a fraudulent way or something, we'll go back and find the culprits later on. But that really isn't the problem we have. I mean that's where it came from, though. We leveraged up and if you have a 20 percent fall in value of a $20 trillion asset, that's $4 trillion. And when $4 trillion lands - losses land in the wrong part of this economy, it can gum up the whole place. Warren Buffett
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There is no question we have an access stock. Warren Buffett
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The good thing is, we have household formation in this country. Warren Buffett
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We have a country where I don't know whether it's a million households a year or more, but good form. Warren Buffett
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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. Warren Buffett
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People should always know better. Warren Buffett
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You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots. Warren Buffett
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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. Warren Buffett
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When somebody makes it very easy for you to do it by saying you don't really have to put up my money, you can lie about your income a little, or we'll give you 100 percent mortgage, you're going to do it, because everybody that's done it has been proven right. You have social tools, and you're going to feel like an idiot if you didn't do it, because the house cost more. Warren Buffett
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You can lose leverage, and it's the only way a smart guy can go broke. Warren Buffett
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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. Warren Buffett
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If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball. Warren Buffett
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I mean you know at midnight everything is going to turn to pumpkins and mice; right? But if the evening goes along, I mean, you know, the guys look better all the time, the music sounds better, it's more and more fun, you think why the hell should I leave at quarter of 12. I'll leave at two minutes to 12. But the trouble is, there are no clocks on the wall. And everybody thinks they're going to leave at two minutes to 12. Warren Buffett
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At this point, when treasury bills, seven day treasury bills at 1/20th of one percent, it's not because people want to earn 1/20th of one percent, it's because they trust the fact the treasury will give it back to them next week. Warren Buffett
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I'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up. Warren Buffett
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I lose confidence in other people, all kinds of institutions. Warren Buffett
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I've argued with the senators and congressmen I've talked to. You don't want to be too little too late. If you buy them at the right price, you may be buying two trillion of face value. Warren Buffett
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If some institution wants to sell you a billion dollars worth of mortgages, they might have to sell 100 million in the market, and then you'll buy the other 900 million on the same terms. Now, the very fact that this has been authorized or will be authorized, I hope, will firm up the market to some degree. And that's fine. But you don't want to have artificial prices being paid. Warren Buffett
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I think confidence will come back. Warren Buffett
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This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century. Warren Buffett
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We've got more productive capacity now than we ever have. Warren Buffett
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The American worker is more productive than he's ever been. Warren Buffett
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We've got all the ingredients for a sensational future. Warren Buffett
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It's just that right now the athlete's on the floor. But we - this is a super athlete. Warren Buffett
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The same things happen to quite an extent around the globe. I mean, the European banks were doing what the American banks were. Warren Buffett
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I mean, they were getting the mortgage of some guy in Omaha, you know, securitized a couple of times. I mean he had all these - they had all these types from Wall Street, you know, and they had advanced degrees, and they look very alert, and they came with these - they came with these things that said gamma and alpha and sigma and all that. And all I can say is beware of geeks, you know, bearing formulas. They've heard that in Europe. Warren Buffett
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We look for things I can understand. A lot of businesses I don't understand. Warren Buffett
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So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense. Warren Buffett
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I'm not worried they're all about the investments we make. I mean, listen, this country - we've got $46,000 or $47,000 of GDP per capita. Now, we've done pretty darn well. We'll do better in the future. Warren Buffett
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I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up. Warren Buffett
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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. Warren Buffett
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I don't want to hold out false hopes that the - by some magic moment, that things will turn around in a couple months because they wouldn't, Charlie. I mean, and it's a big mistake to try and mislead people. Warren Buffett
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We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year. Warren Buffett
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It makes a difference who the treasury secretary is. Warren Buffett
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I would say it's more important who the treasury secretary is than who the vice president is. If you want to have a debate here, I'd like a debate between potential treasury secretaries than the vice presidential debate. Warren Buffett
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I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude. Warren Buffett
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I think the oversight is great, and I think that oversight ought to be devoted almost entirely to the question is this being done at market you know. In other words, you want to make sure that the government isn't investing foolishly. But you don't want to care about which congressional districts it goes to or whether banks get favored over. Warren Buffett
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I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well. Warren Buffett
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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke. Warren Buffett
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People do, as long as you have markets, you'll have excesses. Warren Buffett
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People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started. Warren Buffett
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I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter. Warren Buffett
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Can you know you can have institutions that put curbs on that in various ways, and actually what the banks, you know, they have various capital ratios and that sort of thing, but the banks got around them, I mean, they set up sieves and that sort of thing just to get more leverage. People love leverage when it's working. I mean, it's so easy to borrow money from a guy at X and put it out at X. Warren Buffett
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A lot of people disagree with me on this, I believe in mark to market. Warren Buffett
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That's the reality of what they're going to sell them to the Treasury for. Warren Buffett
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You get in a lot of trouble when you start putting fictitious numbers. Warren Buffett
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I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today. Warren Buffett
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I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years. Warren Buffett
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I think people - what people want to do is make [economy] get worse. Warren Buffett
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It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the percent we own marketable securities or things for which there are market, even if those markets - I want to tell them what it's all about. Warren Buffett
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I've already written a section in the annual report for next year explaining why I think in one case that the figures on our balance sheet as calculated are wrong. But it's the standard way of doing it. It's holy writ. The SEC wants us to do it that way, and we'll do it that way, and I'll explain why I think it's wrong and shareholders can read it and see whether they agree with my logic or don't. Warren Buffett
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It will be good for us in the long run, and I mean there are, you know, six and a half billion people in this world. And it's great for 300 million to keep enjoying more and more property, but I think it's terrific if, you know, the remainder do. Warren Buffett
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Somebody's buying these treasury bills at 1/20th of one percent. Consuming about $2 billion a day of goods and services beyond what we're producing. In other words, the rest of the world sends about $2 billion a day net of something.We got to send them something in return, don't we. So we send them little pieces of paper. Warren Buffett
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That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods. Warren Buffett
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We've actually been pretty good on exports. I mean we are exporting 12% of our GDP now roughly. Warren Buffett
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The rest of the world really likes our stuff pretty well. It's just we buy so damn much of what they produce. Warren Buffett
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Inflation could be a very - is a likely consequence out of what's going on now. Warren Buffett
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We are in effect making a - to some extent, making a choice between future inflation and getting our - getting off the floor. And we're likely - we're likely to have more inflation in the future as a consequence of the things we do to fight the present situation. Warren Buffett
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I think the biggest thing we need is to unclog the credit markets, and we may need another stimulus - if we do, it's - it should go to the lower and middle-income people. Warren Buffett
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I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life. Warren Buffett
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If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office. Warren Buffett
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I think that actually people in my situation should be paying more tax. Warren Buffett
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I think the rest of the country should be paying less, the 95 percent that [Barack] Obama talks about or maybe even a little higher than that. Warren Buffett
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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. Warren Buffett
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I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me. Warren Buffett
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The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it. Warren Buffett
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The woman that comes in, takes the wastebasket away, she's paying 15.3 or whatever it is on payroll tax alone. I mean it is - I never had it so good. Warren Buffett
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If you want a government that's going to do the things we ask our government to do, you've got to get it from somebody. Warren Buffett
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If I got any good ideas out of that or I think they're good ideas, I'll be glad to contribute them but the system will probably overdo some other things. Warren Buffett
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