---
title: "21 Financial Quotes By Warren Buffett"
description: "21 Financial quotes by Warren Buffett. Plus more from Warren Buffett and more Financial sayings from other authors."
image: "https://sms4smile.com/quotes/i/a7d/warren-buffett-183_customer_derivatives-are-financial-weapons-of-mas_1524613.png"
---

> [Derivatives are financial weapons of mass destruction.](https://sms4smile.com/quotes/warren-buffett/derivatives-are-financial-weapons-of-mass-destruction/)

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

[Image](https://sms4smile.com/quotes/i/a7d/warren-buffett-183_customer_derivatives-are-financial-weapons-of-mas_1524613.png)

> [“You never know who's swimming naked until the tide goes out.”](https://sms4smile.com/quotes/warren-buffett/you-never-know-who-s-swimming-naked-until-the-tide-goes-out/)

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

[Image](https://sms4smile.com/quotes/i/bb0/warren-buffett-183_financial_you-never-know-who-s-swimming-naked-unti_2189235.png)

> [When investing, pessimism is your friend, euphoria the enemy.](https://sms4smile.com/quotes/warren-buffett/when-investing-pessimism-is-your-friend-euphoria-the-enemy/)

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

[Image](https://sms4smile.com/quotes/i/8b3/warren-buffett-183_customer_when-investing-pessimism-is-your-friend_1377870.png)

> [You can't buy what is popular and do well.](https://sms4smile.com/quotes/warren-buffett/you-can-t-buy-what-is-popular-and-do-well/)

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

[Image](https://sms4smile.com/quotes/i/e71/warren-buffett-183_best-investment_you-can-t-buy-what-is-popular-and-do-wel_1809062.png)

> [In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.](https://sms4smile.com/quotes/warren-buffett/in-our-view-derivatives-are-financial-weapons-of-mass-destruction/)

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

[Image](https://sms4smile.com/quotes/i/b71/warren-buffett-183_business_in-our-view-derivatives-are-financial-we_2836096.png)

> [Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You…](https://sms4smile.com/quotes/warren-buffett/most-people-get-interested-in-stocks-when-everyone-else-is-the-time/)

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

[Image](https://sms4smile.com/quotes/i/35e/warren-buffett-183_best-investment_most-people-get-interested-in-stocks-whe_2502167.png)

> [You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.](https://sms4smile.com/quotes/warren-buffett/you-have-no-ability-if-you-re-a-financial-institution-and-you-re/)

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

[Image](https://sms4smile.com/quotes/i/7ce/warren-buffett-183_ability_you-have-no-ability-if-you-re-a-financia_1128231.png)

> [I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so…](https://sms4smile.com/quotes/warren-buffett/i-think-once-you-start-putting-phony-figures-into-financial/)

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

[Image](https://sms4smile.com/quotes/i/c10/warren-buffett-183_figures_i-think-once-you-start-putting-phony-fig_952794.png)

> [In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to…](https://sms4smile.com/quotes/warren-buffett/in-one-way-i-m-sympathetic-to-the-institutional-reluctance-to-face/)

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

[Image](https://sms4smile.com/quotes/i/198/warren-buffett-183_faces_in-one-way-i-m-sympathetic-to-the-instit_2723710.png)

> [Asking for financial advice from a financial planner is like asking a barber if you need a hair cut.](https://sms4smile.com/quotes/warren-buffett/asking-for-financial-advice-from-a-financial-planner-is-like-asking-a/)

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

[Image](https://sms4smile.com/quotes/i/dcc/warren-buffett-183_advice_asking-for-financial-advice-from-a-finan_1152134.png)

> [You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an…](https://sms4smile.com/quotes/warren-buffett/you-have-to-understand-accounting-and-you-have-to-understand-the/)

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

[Image](https://sms4smile.com/quotes/i/588/warren-buffett-183_accounting_you-have-to-understand-accounting-and-yo_1815159.jpg)

> [You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every…](https://sms4smile.com/quotes/warren-buffett/you-d-get-very-rich-if-you-thought-of-yourself-as-having-a-card-with/)

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

[Image](https://sms4smile.com/quotes/i/bff/warren-buffett-183_big-decisions_you-d-get-very-rich-if-you-thought-of-yo_556858.png)

> [The financial calculus that Charlie and I employ would never permit our trading a good night's sleep for a shot at a…](https://sms4smile.com/quotes/warren-buffett/the-financial-calculus-that-charlie-and-i-employ-would-never-permit/)

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

[Image](https://sms4smile.com/quotes/i/878/warren-buffett-183_calculus_the-financial-calculus-that-charlie-and_2693704.png)

> [It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of…](https://sms4smile.com/quotes/warren-buffett/it-isn-t-given-to-man-to-be-able-to-run-a-financial-institution-where/)

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

[Image](https://sms4smile.com/quotes/i/666/warren-buffett-183_able_it-isn-t-given-to-man-to-be-able-to-run_199821.jpg)

> [I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for…](https://sms4smile.com/quotes/warren-buffett/i-believe-the-chance-of-any-event-causing-berkshire-to-experience/)

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

[Image](https://sms4smile.com/quotes/i/15c/warren-buffett-183_be-prepared_i-believe-the-chance-of-any-event-causin_1990842.jpg)

> [I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial…](https://sms4smile.com/quotes/warren-buffett/i-mean-there-is-no-capital-requirements-to-it-or-anything-of-the-sort/)

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

[Image](https://sms4smile.com/quotes/i/2e6/warren-buffett-183_bears_i-mean-there-is-no-capital-requirements_2427599.jpg)

> [In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen…](https://sms4smile.com/quotes/warren-buffett/in-the-20th-century-the-united-states-endured-two-world-wars-and/)

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

[Image](https://sms4smile.com/quotes/i/41a/warren-buffett-183_20th-century_in-the-20th-century-the-united-states-en_1022835.png)

> [In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen.…](https://sms4smile.com/quotes/warren-buffett/in-the-financial-markets-i-find-it-easy-to-predict-what-will-happen/)

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

[Image](https://sms4smile.com/quotes/i/4d2/warren-buffett-183_bubbles_in-the-financial-markets-i-find-it-easy_1573105.jpg)

> [In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business…](https://sms4smile.com/quotes/warren-buffett/in-the-end-alchemy-whether-it-is-metallurgical-or-financial-fails-a/)

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

[Image](https://sms4smile.com/quotes/i/522/warren-buffett-183_accounting_in-the-end-alchemy-whether-it-is-metallu_2903419.jpg)

> [None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach…](https://sms4smile.com/quotes/warren-buffett/none-of-this-means-however-that-a-business-or-stock-is-an-intelligent/)

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

[Image](https://sms4smile.com/quotes/i/c84/warren-buffett-183_approach_none-of-this-means-however-that-a-busine_449690.png)

> [I think it's been, you know, kind of like a tragic play to this point. But at this point, I think it's…](https://sms4smile.com/quotes/warren-buffett/i-think-it-s-been-you-know-kind-of-like-a-tragic-play-to-this-point/)

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

[Image](https://sms4smile.com/quotes/i/ee2/warren-buffett-183_american-people_i-think-it-s-been-you-know-kind-of-like_2146895.png)

## Other authors on Financial

## 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/)

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                        "text": "I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.",
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                        "text": "In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'",
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                        "text": "The financial calculus that Charlie and I employ would never permit our trading a good night's sleep for a shot at a few extra percentage points of return. I've never believed in risking what my friends and family have and need in order to pursue what they don't have and don't need.",
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                        "text": "It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of that so as to produce kind of smooth, regular earnings from a very large base to start with.",
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                        "text": "I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to the unprepared.",
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                        "text": "I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.",
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                        "text": "In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.",
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                        "text": "In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen. I think that things were clear during the bubble as to what would happen eventually.",
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                        "text": "In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.",
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                        "text": "None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world: Most men would rather die than think. Many do.",
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                        "text": "I think it's been, you know, kind of like a tragic play to this point. But at this point, I think it's clear, and will be clear to the majority of the Congress. I think it's clear to the American people that there is only one countervailing force to a world where financial institutions are trying to sell instruments every day and where credit has dried up, and that's the United States Treasury.",
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