--- title: "8 Foolish Quotes By Warren Buffett" description: "8 Foolish quotes by Warren Buffett. Plus more from Warren Buffett and more Foolish sayings from other authors." image: "https://sms4smile.com/quotes/i/7bd/warren-buffett-183_consistently_but-300-million-americans-their-lending_352323.png" --- > [But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently.…](https://sms4smile.com/quotes/warren-buffett/but-300-million-americans-their-lending-institutions-their-government/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/7bd/warren-buffett-183_consistently_but-300-million-americans-their-lending_352323.png) > [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) > [The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we…](https://sms4smile.com/quotes/warren-buffett/the-stock-market-is-there-only-as-a-reference-point-to-see-if-anybody/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/e1a/warren-buffett-183_business_the-stock-market-is-there-only-as-a-refe_1201417.jpg) > [A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.](https://sms4smile.com/quotes/warren-buffett/a-contrarian-approach-is-just-as-foolish-as-a-follow-the-crowd/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/ca5/warren-buffett-183_approach_a-contrarian-approach-is-just-as-foolish_1303089.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) > [For example: (1) As if governed by Newton's First Law of Motion, an institution will resist any change in its current direction;…](https://sms4smile.com/quotes/warren-buffett/for-example-1-as-if-governed-by-newton-s-first-law-of-motion-an/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/2df/warren-buffett-183_acquisition_for-example-1-as-if-governed-by-newton-s_1750259.png) > [Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside…](https://sms4smile.com/quotes/warren-buffett/of-one-thing-be-certain-if-a-ceo-is-enthused-about-a-particularly/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/d3b/warren-buffett-183_acquisition_of-one-thing-be-certain-if-a-ceo-is-enth_2795435.png) > [A fool and his money are soon invited everywhere.](https://sms4smile.com/quotes/warren-buffett/a-fool-and-his-money-are-soon-invited-everywhere/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/3df/warren-buffett-183_adages_a-fool-and-his-money-are-soon-invited-ev_3009065.png) ## Other authors on Foolish ## 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/foolish/warren-buffett/#itemlist", "name": "8 Foolish Quotes By Warren Buffett", "numberOfItems": 8, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/but-300-million-americans-their-lending-institutions-their-government/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/7bd/warren-buffett-183_consistently_but-300-million-americans-their-lending_352323.png", "contentUrl": "https://sms4smile.com/quotes/i/7bd/warren-buffett-183_consistently_but-300-million-americans-their-lending_352323.png", "url": "https://sms4smile.com/quotes/i/7bd/warren-buffett-183_consistently_but-300-million-americans-their-lending_352323.png", "width": 1080, "height": 1080, "caption": "“But 300 million Americans, their lending institutions, their government, their media, all believed that…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 2, "item": { "@type": "Quotation", "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.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/none-of-this-means-however-that-a-business-or-stock-is-an-intelligent/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/c84/warren-buffett-183_approach_none-of-this-means-however-that-a-busine_449690.png", "contentUrl": "https://sms4smile.com/quotes/i/c84/warren-buffett-183_approach_none-of-this-means-however-that-a-busine_449690.png", "url": "https://sms4smile.com/quotes/i/c84/warren-buffett-183_approach_none-of-this-means-however-that-a-busine_449690.png", "width": 1080, "height": 1080, "caption": "“None of this means, however, that a business or stock is an intelligent purchase simply because it is…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 3, "item": { "@type": "Quotation", "text": "The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we invest in stocks, we invest in businesses.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/the-stock-market-is-there-only-as-a-reference-point-to-see-if-anybody/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/e1a/warren-buffett-183_business_the-stock-market-is-there-only-as-a-refe_1201417.jpg", "contentUrl": "https://sms4smile.com/quotes/i/e1a/warren-buffett-183_business_the-stock-market-is-there-only-as-a-refe_1201417.jpg", "url": "https://sms4smile.com/quotes/i/e1a/warren-buffett-183_business_the-stock-market-is-there-only-as-a-refe_1201417.jpg", "width": 1080, "height": 1080, "caption": "“The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 4, "item": { "@type": "Quotation", "text": "A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/a-contrarian-approach-is-just-as-foolish-as-a-follow-the-crowd/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/ca5/warren-buffett-183_approach_a-contrarian-approach-is-just-as-foolish_1303089.png", "contentUrl": "https://sms4smile.com/quotes/i/ca5/warren-buffett-183_approach_a-contrarian-approach-is-just-as-foolish_1303089.png", "url": "https://sms4smile.com/quotes/i/ca5/warren-buffett-183_approach_a-contrarian-approach-is-just-as-foolish_1303089.png", "width": 1080, "height": 1080, "caption": "“A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 5, "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": 6, "item": { "@type": "Quotation", "text": "For example: (1) As if governed by Newton's First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/for-example-1-as-if-governed-by-newton-s-first-law-of-motion-an/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/2df/warren-buffett-183_acquisition_for-example-1-as-if-governed-by-newton-s_1750259.png", "contentUrl": "https://sms4smile.com/quotes/i/2df/warren-buffett-183_acquisition_for-example-1-as-if-governed-by-newton-s_1750259.png", "url": "https://sms4smile.com/quotes/i/2df/warren-buffett-183_acquisition_for-example-1-as-if-governed-by-newton-s_1750259.png", "width": 1080, "height": 1080, "caption": "“For example: (1) As if governed by Newton's First Law of Motion, an institution will resist any change in…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 7, "item": { "@type": "Quotation", "text": "Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/of-one-thing-be-certain-if-a-ceo-is-enthused-about-a-particularly/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/d3b/warren-buffett-183_acquisition_of-one-thing-be-certain-if-a-ceo-is-enth_2795435.png", "contentUrl": "https://sms4smile.com/quotes/i/d3b/warren-buffett-183_acquisition_of-one-thing-be-certain-if-a-ceo-is-enth_2795435.png", "url": "https://sms4smile.com/quotes/i/d3b/warren-buffett-183_acquisition_of-one-thing-be-certain-if-a-ceo-is-enth_2795435.png", "width": 1080, "height": 1080, "caption": "“Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 8, "item": { "@type": "Quotation", "text": "A fool and his money are soon invited everywhere.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/a-fool-and-his-money-are-soon-invited-everywhere/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/3df/warren-buffett-183_adages_a-fool-and-his-money-are-soon-invited-ev_3009065.png", "contentUrl": "https://sms4smile.com/quotes/i/3df/warren-buffett-183_adages_a-fool-and-his-money-are-soon-invited-ev_3009065.png", "url": "https://sms4smile.com/quotes/i/3df/warren-buffett-183_adages_a-fool-and-his-money-are-soon-invited-ev_3009065.png", "width": 1080, "height": 1080, "caption": "“A fool and his money are soon invited everywhere.” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } } ] }, { "@type": "CollectionPage", "@id": "https://sms4smile.com/quotes/about/foolish/warren-buffett/#webpage", "url": "https://sms4smile.com/quotes/about/foolish/warren-buffett/", "name": "Foolish Quotes by Warren Buffett", "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "mainEntity": { "@id": "https://sms4smile.com/quotes/about/foolish/warren-buffett/#itemlist" }, "primaryImageOfPage": { "@id": "https://sms4smile.com/quotes/i/7bd/warren-buffett-183_consistently_but-300-million-americans-their-lending_352323.png" }, "description": "8 Foolish quotes by Warren Buffett. Plus more from Warren Buffett and more Foolish sayings from other authors.", "breadcrumb": { "@id": "https://sms4smile.com/quotes/about/foolish/warren-buffett/#breadcrumb" } }, { "@type": "BreadcrumbList", "@id": "https://sms4smile.com/quotes/about/foolish/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": "Foolish", "item": "https://sms4smile.com/quotes/about/foolish/" }, { "@type": "ListItem", "position": 5, "name": "Warren Buffett", "item": "https://sms4smile.com/quotes/about/foolish/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 } } ] } ```