---
title: "7 Five Quotes By Warren Buffett"
description: "7 Five quotes by Warren Buffett. Plus more from Warren Buffett and more Five sayings from other authors."
image: "https://sms4smile.com/quotes/i/68b/warren-buffett-183_confidence_confidence-in-markets-and-in-institution_269485.png"
---

> [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…](https://sms4smile.com/quotes/warren-buffett/confidence-in-markets-and-in-institutions-it-s-a-lot-like-oxygen-when/)

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

[Image](https://sms4smile.com/quotes/i/68b/warren-buffett-183_confidence_confidence-in-markets-and-in-institution_269485.png)

> [The best business returns are usually achieved by companies that are doing something quite similar today to what they were doing five…](https://sms4smile.com/quotes/warren-buffett/the-best-business-returns-are-usually-achieved-by-companies-that-are/)

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

[Image](https://sms4smile.com/quotes/i/e10/warren-buffett-183_best-business_the-best-business-returns-are-usually-ac_425275.png)

> [Do not take yearly results too seriously. Instead, focus on four or five-year averages.](https://sms4smile.com/quotes/warren-buffett/do-not-take-yearly-results-too-seriously-instead-focus-on-four-or/)

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

[Image](https://sms4smile.com/quotes/i/e63/warren-buffett-183_average_do-not-take-yearly-results-too-seriously_731545.png)

> [If you own the only newspaper in town, up until the last five years or so, you have pricing power and you…](https://sms4smile.com/quotes/warren-buffett/if-you-own-the-only-newspaper-in-town-up-until-the-last-five-years-or/)

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

[Image](https://sms4smile.com/quotes/i/9ef/warren-buffett-183_five_if-you-own-the-only-newspaper-in-town-up_1885962.png)

> [In our view, though, investment students need only two well-taught courses-How to Value a Business, and How to Think about Market Prices.…](https://sms4smile.com/quotes/warren-buffett/in-our-view-though-investment-students-need-only-two-well-taught/)

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

[Image](https://sms4smile.com/quotes/i/b75/warren-buffett-183_business_in-our-view-though-investment-students-n_2278603.jpg)

> [It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in…](https://sms4smile.com/quotes/warren-buffett/it-takes-150-years-to-build-an-investment-bank-and-only-five-minutes/)

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

[Image](https://sms4smile.com/quotes/i/f4b/warren-buffett-183_convince_it-takes-150-years-to-build-an-investmen_2315756.png)

> [If I knew where I was going to want to live the next five or 10 years I would buy a home…](https://sms4smile.com/quotes/warren-buffett/if-i-knew-where-i-was-going-to-want-to-live-the-next-five-or-10-years/)

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

[Image](https://sms4smile.com/quotes/i/b71/warren-buffett-183_deals_if-i-knew-where-i-was-going-to-want-to-l_2991970.png)

## Other authors on Five

## 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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