Warren Buffett quotes: the “Oracle of Omaha” talks business, investing, leadership, and life in general.
“Rule number one: never lose money. Rule number two: never forget rule number one.”
“Price is what you pay. Value is what you get.”
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
“Only buy something that you’d be perfectly happy to hold should the market shut down for 10 years.”
“What we learn from history is that people don’t learn from history.”
“The difference between successful people and really successful people is that really successful people say no to almost everything.”
“Beware of geeks bearing formulas.”
“It’s never paid to bet against America. We come through things although it’s not always a smooth ride.”
“In the business world, the rearview mirror is always clearer than the windshield.”
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
“If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster.”
“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
“We enjoy the process far more than the proceeds.”
“We always live in an uncertain world. What is certain is that the United States will go forward over time.”
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
“The business schools reward difficult, complex behavior more than simple behavior – but simple behavior is more effective.”
“Why not invest your assets in the companies you really like?”
“Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.”
“A public opinion poll is no substitute for thought.”
“Our favorite holding period is forever.”
“Risk comes from not knowing what you’re doing.”
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
“There seems to be a perverse human characteristic that likes to make easy things difficult.”
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”
“It’s only when the tide goes out that you discover who’s been swimming naked.”
“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.”
“The investor of today does not profit from yesterday’s growth.”
“You only have to do a very few things right in your life so long as you don’t do too many things wrong.”
“Look at market fluctuations as your friend rather than your enemy. Profit from folly rather than participate in it.”
“The only way to get love is to be lovable. And the more you give love away, the more you get.”
“Wide diversification is only required when investors do not understand what they are doing.”
“After 25 years of buying and supervising a great deal of businesses, I have not learned how to solve difficult problems; I’ve learned to avoid them.”
“But a pin lies in wait for every bubble.”
“Investors should remember that excitement and expenses are their enemies.”
“Nothing sedates rationality like large doses of effortless money.”
“We never want to count on kindness of strangers in order to meet tomorrow’s obligations.”
“The stock market is a no-called-strike game. You don’t have to swing at everything; you can wait for your pitch.”
Notice the recurring themes: educate yourself; be incredibly picky in choosing opportunities; zig when everyone else zags; play the long game; greatness always prevails given enough time; do what’s right, not what’s easy; legacy over currency.
Now see what he’s worth.
