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

One of RJR's largest shareholders, he knew tobacco and liked it. "I'll tell you why I like the cigarette business," he said. "It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty."

Over the years, our current businesses, in aggregate, should deliver modest growth in operating earnings. But they will not in themselves produce truly satisfactory gains. We will need major acquisitions to get that job done.

Stop trying to predict the direction of the stock market, the economy, interest rates, or elections.

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

If we can’t find things within our circle of competence, we don’t expand the circle. We’ll wait.

In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.

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.

It’s got to be the best intellectual exercise out there. You’re seeing through new situations every ten minutes…In the stock market you don’t base your decisions on what the market is doing, but on what you think is rational….Bridge is about weighing gain/loss ratios. You’re doing calculations all the time.

Let blockheads read what blockheads wrote.

Mr. Buffett was not briefed on how the transactions were to be structured or on any improper use or purpose of the transactions.

One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as `marketability' and `liquidity," sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.

People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.

Success in investing doesn’t correlate with I.Q., once you’re above the level of 125, once you have ordinary intelligence, what you need is, the temperament to control the urges, that get other people into trouble, in investing.

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

If you are in a poker game and after 20 minutes you don't know who the patsy is, then you’re the patsy.

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.

Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.

It’s simply to say that managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.

Let us do or die.

Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.

One’s objective should be to get it right, get it quick, get it out, and get it over... your problem won’t improve with age.

Put all your eggs in one basket, and then pay very close attention to that basket.

Susie didn't get very excited when I told her we were going to get rich. She either didn't care or didn't believe me - probably both, in fact. But to the extent we did amass wealth, we were totally in sync about what to do with it - and that was to give it back to society.

The directors know now -- and will always know in the future -- exactly what they will do when the need arises. And while we are on the subject, I feel terrific.

I’ve never swung at a ball while it’s still in the pitcher’s glove.

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