It’s only when the tide goes out that you learn who’s been swimming naked. Warren Buffett
Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without the first, you really want them to be dumb and lazy. Warren Buffett
There are three kinds of people in the world: those who can count, and those who can’t. Warren Buffett
It takes 20 years to build a reputation and five minutes to lose it. Warren Buffett
The first rule is not to lose. The second rule is not to forget the first rule. Warren Buffett
Wide diversification is only required when investors do not understand what they are doing. Warren Buffett
Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years. Warren Buffett
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. Warren Buffett
Our favourite holding period is forever. Warren Buffett
If past history was all there was to the game, the richest people would be librarians. Warren Buffett
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway. Warren Buffett
It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head. Warren Buffett on gold.
Price is what you pay. Value is what you get. 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
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
Diversification is a protection against ignorance. It makes very little sense for those who know what they’re doing. Warren Buffett
You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right – that’s the only thing that makes you right. And if your facts and reasoning are right, you don’t have to worry about anybody else. Warren Buffett
There seems to be some perverse human characteristic that likes to make easy things difficult. Warren Buffett
A public-opinion poll is no substitute for thought. Warren Buffett
If class warfare is being waged in America, my class is clearly winning. Warren Buffett
As of 1992, in fact – though the picture would have improved since then – the money that had been made since the dawn of aviation by all of this country’s airline companies was zero. Absolutely zero. 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
In the short run, the market is a voting machine but in the long run it is a weighing machine. Warren Buffett