Warren Buffett Quotes & Wallpapers

Warren Buffett
Total Quotes: 1022

My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action. Warren Buffett

A fool and his money are soon invited everywhere. Warren Buffett

If you buy the things you don't need, you will soon be selling the things that you need. Warren Buffett

It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent. Warren Buffett

You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map. Warren Buffett

You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map. You may find local companies that have nothing wrong with them at all. A company that I found, Western Insurance Securities, was trading for $3/share when it was earning $20/share! I tried to buy up as much of it as possible. No one will tell you about these businesses. You have to find them. Warren Buffett

You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason. Warren Buffett

What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it. Warren Buffett

You need a lot of curiosity for a long, long time. Warren Buffett

The only way to be loved is to be loveable, which really irritates me. Warren Buffett

I'm just lucky to have been in the right place at the right time. Another place, another time, I wouldn't have been as successful. Society enabled me to make my money and my money should go to society. Warren Buffett

Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked. Warren Buffett

During inflation, Goodwill is the gift that keeps on giving. Warren Buffett

Our approach is very much profiting from lack of change rather than from change Warren Buffett

Never risk what you have and need for what we don't have and don't need. Warren Buffett

To win, the first thing you have to do is not lose. Warren Buffett

Mr. Market is your servant, not your guide. Warren Buffett

I learned to go into business only with people whom I like, trust, and admire. Warren Buffett

Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom. Warren Buffett

I would rather sustain the penalties resulting from over-conservatism than face the consequences of error, perhaps with permanent capital loss, resulting from the adoption of "New Era" philosophy where trees really do grow to the sky. Warren Buffett

My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory. Warren Buffett

It is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them. Warren Buffett

In my opinion, the entire field of investment management, involving hundreds of billions of dollars, would be more satisfactorily conducted if everyone had a good yardstick for measurement of ability and sensibly applied it. Warren Buffett

Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests. Warren Buffett

The dominant factors affecting control valuations are earning power (past and prospective) and asset values. Warren Buffett

I have always cautioned partners that I considered three years a minimum in determining whether we were "performing". Warren Buffett

I certainly have no desire to sell a good controlled business run by people I like and admire, merely to obtain a fancy price. However, specific conditions may cause the sale of one operating unit at some point. Warren Buffett

It's simply to say that managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation. Warren Buffett

Instead, we try to apply Aesop's 2,600-year-old equation to opportunities in which we have reasonable confidence as to how many birds are in the bush and when they will emerge (a formulation that my grandsons would probably update to A girl in a convertible is worth five in the phonebook.). Warren Buffett

Knowing what to leave out is just as important as knowing what to focus on. Warren Buffett

If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy. Warren Buffett

Only when the tide goes out do you discover who's been swimming naked. Warren Buffett

Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas. Warren Buffett

If you are a professional and have confidence, then I would advocate lots of concentration. Warren Buffett

The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves - and the better the teacher, the better the student body. Warren Buffett

Your premium brand had better be delivering something special, or it's not going to get the business. Warren Buffett

The first rule is not to lose. The second rule is not to forget the first rule. Warren Buffett

Wide diversification is only required when investors do not understand what they are doing. Warren Buffett

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years. Warren Buffett

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it. Warren Buffett

The ability to say no is a tremendous advantage for an investor. Warren Buffett

My friends and I have been coddled long enough by a billionaire-friendly Congress. Warren Buffett

If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life. Warren Buffett

A bull market is like sex. It feels best just before it ends. Warren Buffett

[W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labeled speculation (which is neither illegal, immoral nor - in our view - financially fattening). Warren Buffett

There's nothing inappropriate about having debt in America. It's what helped us grow over time. And it's when debt gets out of control that you worry. Warren Buffett

I view derivatives as time bombs, both for the parties that deal in them and the economic system. Warren Buffett

Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: How many legs does a dog have, if you call a tail a leg? The answer: Four, because calling a tail a leg doesn't make it a leg. Warren Buffett

Energy deregulation will be the largest transfer of wealth in history. Warren Buffett

Your money can be inflated away but your knowledge and talent cannot. Warren Buffett

Well, it may be all right in practice, but it will never work in theory Warren Buffett

If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal. Warren Buffett

The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group, have long underperformed the unsophisticated index-fund investor who simply sits tight for decades. A major reason has been fees: Many institutions pay substantial sums to consultants who, in turn, recommend high-fee managers. And that is a fool's game. Warren Buffett

The three most important words in investing...Margin of Safety. Warren Buffett

... not doing what we love in the name of greed is very poor management of our lives. Warren Buffett

We rarely use much debt and, when we do, we attempt to structure it on a long-term fixed rate basis. We will reject interesting opportunities rather than over-leverage our balance sheet. This conservatism has penalized our results but it is the only behavior that leaves us comfortable, considering our fiduciary obligations to policyholders, depositors, lenders and the many equity holders who have committed unusually large portions of their net worth to our care. Warren Buffett

When they get their ego involved, people do things they shouldn't do. Warren Buffett

We try to exert a Ted Williams kind of discipline. In his book The Science of Hitting, Ted explains that he carved the strike zone into 77 cells, each the size of a baseball. Swinging only at balls in his "best" cell, he knew, would allow him to bat .400; reaching for balls in his "worst" spot, the low outside corner of the strike zone, would reduce him to .230. In other words, waiting for the fat pitch would mean a trip to the Hall of Fame; swinging indiscriminately would mean a ticket to the minors. Warren Buffett

Always associate yourself with people who are better than you. Warren Buffett

I choose to work with every single person that I work with. That ends up being the most important factor. I don't interact with people I don't like or admire. That's the key. It's like marrying. Warren Buffett

The most common cause of low prices is pessimism-some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer. Warren Buffett

The only time to buy these is on a day with no "y" in it. Warren Buffett

We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessmen. Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one-day drop in the Dow of 508 points, or treasury bill yields fluctuating between 2.8% and 17.4%. Warren Buffett

As of 1992, in fact-though the picture would have improved since then-the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero. Warren Buffett

Focus on return on equity, not earnings per share. Warren Buffett

The advice "you never go broke taking a profit" is foolish. Warren Buffett

Does the business have favourable long term prospects? Warren Buffett

There are certain things that cannot be adequately explained to a virgin either by words or pictures. Warren Buffett

The best investment you can make, is an investment in yourself...The more you learn, the more you'll earn. Warren Buffett

The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market. Warren Buffett

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