Warren Buffett, as most people already know, is one of the wealthiest people in the world. He created Berkshire Hathaway, an investment company that also has the highest stock price. You think a few hundred dollars for one share of stock is expensive? How about over $100,00… for ONE share.
As rich as Mr. Buffett is, he’s known to live a pretty modest life for the most part. He drives an old car and one of his favorite meals is a hamburger with Coca Cola. He is also a philanthropist and has donated plenty of money. He has vowed to give away most of his money to charity when he passes.
When it comes to success, he’s definitely someone you want to listen to. Below are a few Warren Buffett quotes.
“Wide diversification is only required when investors do not understand what they are doing.”
“Time is the friend of the wonderful company, the enemy of the mediocre.”
“The investor of today does not profit from yesterday’s growth.”
“Risk comes from not knowing what you’re doing.”
“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.”
“Chains of habit are too light to be felt until they are too heavy to be broken.”
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
“Why not invest your assets in the companies you really like? As Mae West said, -Too much of a good thing can be wonderful-.”
“Diversification may preserve wealth, but concentration builds wealth.”
“Money, to some extent, sometimes lets you be in more interesting environments. But it can’t change how many people love you or how healthy you are.”
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
“In the search for companies to acquire, we adopt the same attitude one might find appropriate in looking for a spouse: it pays to be active, interested, and open-minded, but it does not pay to be in a hurry.”
“The first rule is not to lose. The second rule is not to forget the first rule.”
“I put heavy weight on certainty. It’s not risky to buy securities at a fraction of what they’re worth.”
“The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.”
“Never ask the barber if you need a haircut.”
“You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ.”
“You should invest in a business that even a fool can run, because someday a fool will.”
“It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price. Now, when buying companies or common stocks, we look for first-class businesses accompanies by first-class managements.”
“Your goal as an investor should be to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are virtually certain to be materially higher five, ten and twenty years from now. Over time, you will find only a few companies that meet these standards – so when you see one that qualifies, you should buy a meaningful amount of stock. You must also resist temptation to stray from your guidelines: If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes.”
“Draw a circle around the businesses you understand and then eliminate those that fail to qualify on the basis of value, good management and limited exposure to hard times.”
“My idea of a group decision is to look in the mirror.”
“John Maynard Keynes essentially said, don’t try and figure out what the market is doing. Figure out a business you understand, and concentrate.”
“I’ve often felt there might be more to be gained by studying business failures than business successes.”
“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.”
“With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock.”
“I don’t try to jump over 7-foot bars. I look around for 1-foot bars that I can step over.”
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
“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.”
“There seems to be some perverse human characteristic that likes to make easy things difficult.”
