A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of… — Warren Buffett Copy Share Image
A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this… — Warren Buffett Copy Share Image
Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which… — Warren Buffett Copy Share Image
We are in effect making a - to some extent, making a choice between future inflation and getting our - getting off… — Warren Buffett Copy Share Image
Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected… — Warren Buffett Copy Share Image
What's hot today isn't likely to be hot tomorrow. The stock market reverts to fundamental returns over the long run. Don't follow… — Warren Buffett Copy Share Image
Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a… — Warren Buffett Copy Share Image
Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You… — Warren Buffett Copy Share Image
If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things.… — Warren Buffett Copy Share Image
None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach… — Warren Buffett Copy Share Image
It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market… — Warren Buffett Copy Share Image
An argument is made that there are just too many question marks about the near future; wouldn't it be better to wait… — Warren Buffett Copy Share Image
My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc.,… — Warren Buffett Copy Share Image
What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an… — Warren Buffett Copy Share Image
To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a… — Warren Buffett Copy Share Image
That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially… — Warren Buffett Copy Share Image
The real fortunes in this country have been made by people who have been right about the business they invested in, and… — Warren Buffett Copy Share Image
... it's important to have the right monetary policy. It's important for, to have the right fiscal policy. But it's nowhere near… — Warren Buffett Copy Share Image
It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the… — Warren Buffett Copy Share Image
Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's… — Warren Buffett Copy Share Image
If you don’t feel comfortable making a rough estimate of the asset’s future earnings, just forget it and move on. No one… — Warren Buffett Copy Share Image
Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in… — Warren Buffett Copy Share Image
I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what… — Warren Buffett Copy Share Image
I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated,… — Warren Buffett Copy Share Image
The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we… — Warren Buffett Copy Share Image
No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics… — Warren Buffett Copy Share Image
Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained… — Warren Buffett Copy Share Image
When 40 billion of treasury bills are sold like, seven day treasury bills, at a yield of 1/20th of one percent, that… — Warren Buffett Copy Share Image
An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices… — Warren Buffett Copy Share Image
A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about… — Warren Buffett Copy Share Image
At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will… — Warren Buffett Copy Share Image
There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night.… — Warren Buffett Copy Share Image
Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very… — Warren Buffett Copy Share Image
Time is your friend, impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of… — Warren Buffett Copy Share Image
We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands… — Warren Buffett Copy Share Image
Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised. — Warren Buffett Copy Share Image
We do not view the company itself as the ultimate owner of our business assets but instead view the company as a… — Warren Buffett Copy Share Image
The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being… — Warren Buffett Copy Share Image
Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos… — Warren Buffett Copy Share Image
If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks… — Warren Buffett Copy Share Image
To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual… — Warren Buffett Copy Share
“Be fearful when others are greedy, and be greedy when others are fearful.” — Warren Buffett Copy Share
Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose. — Warren Buffett Copy Share
We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are… — Warren Buffett Copy Share
Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the… — Warren Buffett Copy Share
It is better to point out your own mistakes than have somebody else do it. — Warren Buffett Copy Share
I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're… — Warren Buffett Copy Share
I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to… — Warren Buffett Copy Share
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to… — Warren Buffett Copy Share
The reaction of weak management to weak operations is often weak accounting. — Warren Buffett Copy Share
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 Copy Share
I don't measure my life by the money I've made. Other people might, but certainly don't. — Warren Buffett Copy Share
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… — Warren Buffett Copy Share
The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the… — Warren Buffett Copy Share
Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate… — Warren Buffett Copy Share
