Warren Buffett Quotes

Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.
Warren Buffett

Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.
Warren Buffett


Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
Warren Buffett


I always knew I was going to be rich. I don't think I ever doubted it for a minute.
Warren Buffett

I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
Warren Buffett

I buy expensive suits. They just look cheap on me.
Warren Buffett

A public-opinion poll is no substitute for thought.
Warren Buffett

The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable.
Warren Buffett

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.
Warren Buffett

We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.
Warren Buffett

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.
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 do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
Warren Buffett

Chains of habit are too light to be felt until they are too heavy to be broken.
Warren Buffett

Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics (bearing in mind that there are really only three kinds of people in the world: those who can count and those who can't).
Warren Buffett

I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
Warren Buffett

Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Warren Buffett

We believe that according the name ‘investors’ to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a ‘romantic.’
Warren Buffett

You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.
Warren Buffett

If a business does well, the stock eventually follows.
Warren Buffett

In the business world, the rearview mirror is always clearer than the windshield.
Warren Buffett


I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Warren Buffett

Chains of habit are too light to be felt until they are too heavy to be broken.
Warren Buffett

I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
Warren Buffett

It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.
Warren Buffett

Let blockheads read what blockheads wrote.
Warren Buffett

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
Warren Buffett

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.
Warren Buffett

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Warren Buffett

Let blockheads read what blockheads wrote.
Warren Buffett

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.
Warren Buffett

Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
Warren Buffett

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.
Warren Buffett

Only when the tide goes out do you discover who's been swimming naked.
Warren Buffett

Risk comes from not knowing what you're doing.
Warren Buffett

Risk is a part of God's game, alike for men and nations.
Warren Buffett

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
Warren Buffett

Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Warren Buffett

The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
Warren Buffett

The first rule is not to lose. The second rule is not to forget the first rule.
Warren Buffett

The investor of today does not profit from yesterday's growth.
Warren Buffett

The only time to buy these is on a day with no "y" in it.
Warren Buffett

There seems to be some perverse human characteristic that likes to make easy things difficult.
Warren Buffett

Time is the friend of the wonderful company, the enemy of the mediocre.
Warren Buffett

Value is what you get.
Warren Buffett

Price is what you pay. Value is what you get.
Warren Buffett

We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'
Warren Buffett

We enjoy the process far more than the proceeds.
Warren Buffett

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
Warren Buffett

When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
Warren Buffett

When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
Warren Buffett


Why not invest your assets in the companies you really like? As Mae West said, "Too much of a good thing can be wonderful".
Warren Buffett

Wide diversification is only required when investors do not understand what they are doing.
Warren Buffett

You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
Warren Buffett


Price is what you pay. Value is what you get.
Warren Buffett

For some reason, people take their cues from price action rather than from values. What doesn’t work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up.
Warren Buffett

Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.
Warren Buffett

Our favorite holding period is forever.
Warren Buffett

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 what the price of the object is going to do, and that's not our game.
Warren Buffett



Despite three years of falling prices, which have significantly improved the attractiveness of common stocks, we still find very few that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.
Warren Buffett

You only have to do a very few things right in your life so long as you don't do too many things wrong.
Warren Buffett


The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves-and the better the teacher, the better the student body.
Warren Buffett

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