Warren Buffett, fully Warren Edward Buffett, aka Oracle of Omaha

Warren
Buffett, fully Warren Edward Buffett, aka Oracle of Omaha
1930

American Businessman, Investor and Philanthropist, Chairman and CEO of Berkshire Hathaway

Author Quotes

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.

I've never seen a system as good as Coke has now.

Money to some extent sometimes let you be in more interesting environments. But it can’t change how many people love you or how healthy you are.

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.

Over the long term, the stock market news will be good. 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.

Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.

The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.

The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.

If someone starts talking to you about beta, zip up your pocketbook.

In allocating capital, activity does not correlate with achievement.

Investing is simple, but not easy.

It’s class warfare; my class is winning, but they shouldn’t be.

I've reluctantly discarded the notion of my continuing to manage the portfolio after my death — abandoning my hope to give new meaning to the term "thinking outside the box".

Money will always flow toward opportunity, and there is an abundance of that in America. Commentators today often talk of "great uncertainty." But think back, for example, to December 6, 1941, October 18, 1987 and September 10, 2001. No matter how serene today may be, tomorrow is always uncertain. Don't let that reality spook you. Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born. The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential - a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even a Civil War - remains alive and effective.

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.

Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.

Someone’s sitting in the shade today because someone planted a tree a long time ago.

The burden of paying Helpers may cause American equity investors, overall, to earn only 80 percent or so of what they would earn if they just sat still and listened to no one.

The market outperformed business for a very long time, and that phenomenon had to end,

If something is not worth doing at all, it's not worth doing well.

In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn, what companies themselves earn; the government or the markets themselves don’t kick anything in. How can you get anything more out of a farm, than what it grows?

It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

I've seen more people fail because of liquor and leverage - leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.

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.

Author Picture
First Name
Warren
Last Name
Buffett, fully Warren Edward Buffett, aka Oracle of Omaha
Birth Date
1930
Bio

American Businessman, Investor and Philanthropist, Chairman and CEO of Berkshire Hathaway