"Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones."
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Quote collection
Warren Buffett quotes (page 4 of 48)
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"Wide diversification is only required when investors do not understand what they are doing."
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"Never give up searching for the job that you’re passionate about. Try to find the job you’d have if you were independently rich. Forget about the pay. When you’re associating with the people that you love, doing what you love, it doesn’t get any better than that."
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"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
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"The best asset is your own self. You can become to an enormous degree the person you want to be"
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"When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year."
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"Uncertainty is the friend of the buyer of long term values."
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"Energy deregulation will be the largest transfer of wealth in history."
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"The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table."
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"I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit."
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"We continue to make more money when snoring than when active."
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"I was lucky to have the right heroes. Tell me who your heroes are and I'll tell you how you'll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming."
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"I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty."
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"It's good to learn from your mistakes. It's better to learn from other people's mistakes."
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"If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless."
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"You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an imperfect language, but unless you are willing to put in the effort to learn accounting - how to read and interpret financial statements - you really shouldn't select stocks yourself"
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"Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation."
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"We don't get paid for being busy, we get paid for being right."
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"You can't make a good deal with a bad person."
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"It is more important to say "no" to an opportunity, than to say "yes"."
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