A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business,… — Warren Buffett Copy Share Image
Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have… — Warren Buffett Copy Share Image
The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is… — Warren Buffett Copy Share Image
In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen.… — Warren Buffett Copy Share Image
If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on… — Warren Buffett Copy Share Image
I am not in the business of predicting general stock market of business fluctuations. If you think I can do this, or… — Warren Buffett Copy Share Image
Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too… — Warren Buffett Copy Share Image
An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if… — Warren Buffett Copy Share Image
Charlie and I decided long ago that in an investment lifetime, it's too hard to make hundreds of smart decisions. That judgment… — Warren Buffett Copy Share Image
The optimum portfolio depends on the various expectations of choices available and the degree of variance in performance which is tolerable. The… — Warren Buffett Copy Share Image
The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on… — Warren Buffett Copy Share Image
My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as… — Warren Buffett Copy Share Image
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We… — Warren Buffett Copy Share Image
Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of… — Warren Buffett Copy Share Image
Can you know you can have institutions that put curbs on that in various ways, and actually what the banks, you know,… — Warren Buffett Copy Share Image
I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial… — Warren Buffett Copy Share Image
You have hedge funds and people like that buying these assets to yield 15 or 20 percent, I mean, that's the buyer… — Warren Buffett Copy Share Image
The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently… — 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
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
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
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
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… — Warren Buffett Copy Share Image
The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified… — Warren Buffett Copy Share Image
Investing is the greatest business in the world because you never have to swing. You stand at the plate; the pitcher throws… — Warren Buffett Copy Share Image
There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which]… — Warren Buffett Copy Share Image
The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that… — Warren Buffett Copy Share Image
But, surprise - none of these blockbuster events made the slightest dent in Ben Graham's investment principles. Nor did they render unsound… — Warren Buffett Copy Share Image
A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very… — Warren Buffett Copy Share Image
I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I… — Warren Buffett Copy Share Image
When Berkshire Hathaway laid out three billion dollars for GE today, we didn't spend it, we invested it. When the Federal government… — Warren Buffett Copy Share Image
I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We… — Warren Buffett Copy Share Image
The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group,… — Warren Buffett Copy Share Image
The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry -… — Warren Buffett Copy Share Image
I mean, they were getting the mortgage of some guy in Omaha, you know, securitized a couple of times. I mean he… — Warren Buffett Copy Share Image
That's been lost. It's a huge problem. What you have is you have the major institutions of the world all wanting to… — Warren Buffett Copy Share Image
If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful… — Warren Buffett Copy Share Image
The American economy is going to do fine. But it won't do fine every year and every week and every month. I… — Warren Buffett Copy Share Image
So smile when you read a headline that says "Investors lose as market falls." Edit it in your mind to "Disinvestors lose… — Warren Buffett Copy Share Image
For some reason, people take their cues from price action rather than from values. What doesn't work is when you start doing… — 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 Image
“Be fearful when others are greedy, and be greedy when others are fearful.” — Warren Buffett Copy Share Image
Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose. — Warren Buffett Copy Share Image
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 Image
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 Image
It is better to point out your own mistakes than have somebody else do it. — Warren Buffett Copy Share Image
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 Image
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 Image
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 Image
The reaction of weak management to weak operations is often weak accounting. — Warren Buffett Copy Share Image
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 Image
I don't measure my life by the money I've made. Other people might, but certainly don't. — Warren Buffett Copy Share Image
![“There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive…” quote by Warren Buffett](https://sms4smile.com/quotes/img-quotes/72f/warren-buffett-183_advantage_there-are-three-important-principles-to_784492.jpg)
