Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor and philanthropist. He is considered by some to be one of the most successful investors in the world. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway, and is consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest in 2015. In 2012 Time named Buffett one of the world's most influential people...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth30 August 1930
CityOmaha, NE
CountryUnited States of America
It's good to learn from your mistakes. It's better to learn from other people's mistakes.
We like to buy businesses, but we don't like to sell them.
Enjoy your work and work for whom you admire.
In a commodity business, it's very hard to be smarter than your dumbest competitor.
Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.
The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.
What motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As 'bandwagon' investors join any party, they create their own truth - for a while.
It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.
The reaction of weak management to weak operations is often weak accounting.
Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.
I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject.
An investor needs to do very few things right as long as he or she avoids big mistakes.