"It is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them."
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Quote collection
Warren Buffett quotes (page 31 of 48)
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"The value of market esoterica to the consumer of investment advice is a different story. In my opinion, investment success will not be produced by arcane formulae, computer programs or signals flashed by the price behavior of stocks and markets. Rather an investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace."
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"If you can tell me who your heroes are, I can tell you how you're going to turn out in life."
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"Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a prospective owner."
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"Investors should remember that their scorecard is not computed using Olympic-diving methods: Degree-of-difficulty doesn't count. If you are right about a business whose value is largely dependent on a single key factor that is both easy to understand and enduring, the payoff is the same as if you had correctly analyzed an investment alternative characterized by many constantly shifting and complex variables."
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"You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it."
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"Generally speaking, investing in yourself is the best thing you can do. Anything that improves your own talents; nobody can tax it or take it away from you. They can run up huge deficits and the dollar can become worth far less. You can have all kinds of things happen. But if you’ve got talent yourself, and you’ve maximized your talent, you’ve got a tremendous asset that can return ten-fold."
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"Observing that the market was FREQUENTLY efficient, EMT Adherents went on to conclude incorrectly that it was ALWAYS efficient. The difference between these propositions is night and day."
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"The American worker is more productive than he's ever been."
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"My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action."
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"What we really want to do is buy businesses that we would be happy to own forever."
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"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."
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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."
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"Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem."
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"If you're in a card game and you can't figure out who the patsy is, you're it."
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"Continually challenge and be willing to amend your best loved ideas."
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"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble."
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"I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20."
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"If you don't know the Jewelry, know the Jeweller"
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"I have got this letter which actually goes out the day after I die. It has already been written. And it says that: "Yesterday I died". And then it says: "That's bad news for me, but it's not bad news for you, the shareholders of Berkshire". And then I go on and explain what is going to happen. I know that is one time when they will be really interested in hearing from me."
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