---
title: "4 Broke Quotes By Warren Buffett"
description: "4 Broke quotes by Warren Buffett. Plus more from Warren Buffett and more Broke sayings from other authors."
image: "https://sms4smile.com/quotes/i/a69/warren-buffett-183_broke_with-enough-insider-information-and-a-mi_724807.png"
---

> [With enough insider information and a million dollars, you can go broke in a year.](https://sms4smile.com/quotes/warren-buffett/with-enough-insider-information-and-a-million-dollars-you-can-go/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/a69/warren-buffett-183_broke_with-enough-insider-information-and-a-mi_724807.png)

> [You can lose leverage, and it's the only way a smart guy can go broke.](https://sms4smile.com/quotes/warren-buffett/you-can-lose-leverage-and-it-s-the-only-way-a-smart-guy-can-go-broke/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/139/warren-buffett-183_broke_you-can-lose-leverage-and-it-s-the-only_1519011.png)

> [The advice "you never go broke taking a profit" is foolish.](https://sms4smile.com/quotes/warren-buffett/the-advice-you-never-go-broke-taking-a-profit-is-foolish/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/77f/warren-buffett-183_advice_the-advice-you-never-go-broke-taking-a-p_1750209.png)

> [Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans…](https://sms4smile.com/quotes/warren-buffett/resolution-trust-company-was-set-up-to-liquidate-a-bunch-of-assets-2/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/79f/warren-buffett-183_assets_resolution-trust-company-was-set-up-to-l_2748783.png)

## Other authors on Broke

## More by Warren Buffett

> [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…](https://sms4smile.com/quotes/warren-buffett/to-invest-successfully-over-a-lifetime-does-not-require-a/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [“Be fearful when others are greedy, and be greedy when others are fearful.”](https://sms4smile.com/quotes/warren-buffett/be-fearful-when-others-are-greedy-and-be-greedy-when-others-are/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.](https://sms4smile.com/quotes/warren-buffett/making-money-isn-t-the-backbone-of-our-guiding-purpose-it-is-the-by/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [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…](https://sms4smile.com/quotes/warren-buffett/we-set-no-volume-goals-in-our-insurance-business-generally-and/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [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…](https://sms4smile.com/quotes/warren-buffett/everybody-s-got-a-different-circle-of-competence-the-important-thing/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [It is better to point out your own mistakes than have somebody else do it.](https://sms4smile.com/quotes/warren-buffett/it-is-better-to-point-out-your-own-mistakes-than-have-somebody-else/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [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…](https://sms4smile.com/quotes/warren-buffett/i-ve-read-about-all-the-sales-today-if-you-re-an-auto-dealer-you-re/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to…](https://sms4smile.com/quotes/warren-buffett/i-was-lucky-enough-to-be-born-in-a-time-and-place-where-society/)

[Warren Buffett](https://sms4smile.com/quotes/author/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…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/)

[Warren Buffett](https://sms4smile.com/quotes/author/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.](https://sms4smile.com/quotes/warren-buffett/what-you-really-want-to-do-in-investments-is-figure-out-what-s/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [I don't measure my life by the money I've made. Other people might, but certainly don't.](https://sms4smile.com/quotes/warren-buffett/i-don-t-measure-my-life-by-the-money-i-ve-made-other-people-might-but/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [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…](https://sms4smile.com/quotes/warren-buffett/i-mean-the-truth-is-i-ve-never-had-it-so-good-in-terms-of-taxes-i-am/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the…](https://sms4smile.com/quotes/warren-buffett/the-most-important-quality-for-an-investor-is-temperament-not/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate…](https://sms4smile.com/quotes/warren-buffett/investors-of-course-can-by-their-own-behavior-make-stock-ownership/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "ItemList",
            "@id": "https://sms4smile.com/quotes/about/broke/warren-buffett/#itemlist",
            "name": "4 Broke Quotes By Warren Buffett",
            "numberOfItems": 4,
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "item": {
                        "@type": "Quotation",
                        "text": "With enough insider information and a million dollars, you can go broke in a year.",
                        "creator": {
                            "@type": "Person",
                            "name": "Warren Buffett"
                        },
                        "url": "https://sms4smile.com/quotes/warren-buffett/with-enough-insider-information-and-a-million-dollars-you-can-go/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/a69/warren-buffett-183_broke_with-enough-insider-information-and-a-mi_724807.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/a69/warren-buffett-183_broke_with-enough-insider-information-and-a-mi_724807.png",
                            "url": "https://sms4smile.com/quotes/i/a69/warren-buffett-183_broke_with-enough-insider-information-and-a-mi_724807.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“With enough insider information and a million dollars, you can go broke in a year.” — Warren Buffett",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "item": {
                        "@type": "Quotation",
                        "text": "You can lose leverage, and it's the only way a smart guy can go broke.",
                        "creator": {
                            "@type": "Person",
                            "name": "Warren Buffett"
                        },
                        "url": "https://sms4smile.com/quotes/warren-buffett/you-can-lose-leverage-and-it-s-the-only-way-a-smart-guy-can-go-broke/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/139/warren-buffett-183_broke_you-can-lose-leverage-and-it-s-the-only_1519011.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/139/warren-buffett-183_broke_you-can-lose-leverage-and-it-s-the-only_1519011.png",
                            "url": "https://sms4smile.com/quotes/i/139/warren-buffett-183_broke_you-can-lose-leverage-and-it-s-the-only_1519011.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“You can lose leverage, and it's the only way a smart guy can go broke.” — Warren Buffett",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "item": {
                        "@type": "Quotation",
                        "text": "The advice \"you never go broke taking a profit\" is foolish.",
                        "creator": {
                            "@type": "Person",
                            "name": "Warren Buffett"
                        },
                        "url": "https://sms4smile.com/quotes/warren-buffett/the-advice-you-never-go-broke-taking-a-profit-is-foolish/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/77f/warren-buffett-183_advice_the-advice-you-never-go-broke-taking-a-p_1750209.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/77f/warren-buffett-183_advice_the-advice-you-never-go-broke-taking-a-p_1750209.png",
                            "url": "https://sms4smile.com/quotes/i/77f/warren-buffett-183_advice_the-advice-you-never-go-broke-taking-a-p_1750209.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“The advice \"you never go broke taking a profit\" is foolish.” — Warren Buffett",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "item": {
                        "@type": "Quotation",
                        "text": "Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.",
                        "creator": {
                            "@type": "Person",
                            "name": "Warren Buffett"
                        },
                        "url": "https://sms4smile.com/quotes/warren-buffett/resolution-trust-company-was-set-up-to-liquidate-a-bunch-of-assets-2/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/79f/warren-buffett-183_assets_resolution-trust-company-was-set-up-to-l_2748783.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/79f/warren-buffett-183_assets_resolution-trust-company-was-set-up-to-l_2748783.png",
                            "url": "https://sms4smile.com/quotes/i/79f/warren-buffett-183_assets_resolution-trust-company-was-set-up-to-l_2748783.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because…” — Warren Buffett",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                }
            ]
        },
        {
            "@type": "CollectionPage",
            "@id": "https://sms4smile.com/quotes/about/broke/warren-buffett/#webpage",
            "url": "https://sms4smile.com/quotes/about/broke/warren-buffett/",
            "name": "Broke Quotes by Warren Buffett",
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "mainEntity": {
                "@id": "https://sms4smile.com/quotes/about/broke/warren-buffett/#itemlist"
            },
            "primaryImageOfPage": {
                "@id": "https://sms4smile.com/quotes/i/a69/warren-buffett-183_broke_with-enough-insider-information-and-a-mi_724807.png"
            },
            "description": "4 Broke quotes by Warren Buffett. Plus more from Warren Buffett and more Broke sayings from other authors.",
            "breadcrumb": {
                "@id": "https://sms4smile.com/quotes/about/broke/warren-buffett/#breadcrumb"
            }
        },
        {
            "@type": "BreadcrumbList",
            "@id": "https://sms4smile.com/quotes/about/broke/warren-buffett/#breadcrumb",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Topics",
                    "item": "https://sms4smile.com/quotes/categories/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "Broke",
                    "item": "https://sms4smile.com/quotes/about/broke/"
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "name": "Warren Buffett",
                    "item": "https://sms4smile.com/quotes/about/broke/warren-buffett/"
                }
            ]
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```