Warren Buffett Quotes

376 Warren Buffett Quotes

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It’s much easier to stay out of trouble now than to get out of trouble later.
Warren Buffett

Risk comes from not knowing what you are doing.
Warren Buffett

I’d be a bum on the street with a tin cup if the markets were always efficient.
Warren Buffett

Mr Market is there to serve you, not to guide you … It will be disastrous if you fall under his influence.
Warren Buffett

Indeed, if you aren’t certain that you understand and can value your business far better than Mr Market, you don’t belong in the game.
Warren Buffett

Price is what you pay, value is what you get.
Warren Buffett

We want managers who tell the truth, and tell themselves the truth – which is more important.
Warren Buffett

In a business selling a commodity type product it’s impossible to be a lot smarter than your dumbest competitor.
Warren Buffett

I would rather have a $10 million business making 15% than a $100 million business making 5%.
Warren Buffett

The trick is, when there is nothing to do, do nothing.
Warren Buffett



You don’t get paid for activity. You only get paid for being right.
Warren Buffett

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.
Warren Buffett

Money is a by-product of doing something I like doing extremely well.
Warren Buffett

What we do is not beyond anybody else’s competence. It is just not necessary to do extraordinary things to get extraordinary results.
Warren Buffett

If principles can become dated, they’re not principles.
Warren Buffett

It has been helpful to me to have tens of thousands (of students) turned out of business schools taught that it didn’t do any good to think.
Warren Buffett

I feel like an oversexed guy in a harem. This is the time to start investing.
Warren Buffett

Valuing a business is part art and part science.
Warren Buffett

Berkshire buys when the lemmings are heading the other way.
Warren Buffett

People would rather be promised a (presumably) winning lottery ticket next week than an opportunity to get rich slowly.
Warren Buffett



It’s only when the tide goes out that you learn who’s been swimming naked.
Warren Buffett

You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.
Warren Buffett

You have to think for yourself. It always amazes me how high IQ people mindlessly imitate. I never get good ideas talking to other people.
Warren Buffett

I read annual reports of the company I’m looking at and I read the annual reports of the competitors – that is the main source of material.
Warren Buffett

A stock doesn’t know you own it.
Warren Buffett

Frankly, no airline is going to be a wonderful business.
Warren Buffett

If you gave me $100 million and said take away the soft drink leadership of Coca-Cola in the world, I’d give it back to you and say it can’t be done.
Warren Buffett

No thanks, I’ll take cash.
Warren Buffett

Any young person who doesn’t take up bridge is making a big mistake.
Warren Buffett

[On being asked what his next goal is after he became the richest person in America] That’s easy, to be the oldest man in America.
Warren Buffett



Size is the anchor of performance.
Warren Buffett

[Charlie Munger] His portfolio was concentrated in a very few securities and therefore his record was much more volatile but it was based on the same discount-from-value approach. He was willing to accept greater peaks and valleys of performance, and he happens to be a fellow whose whole psyche goes toward concentration….
Warren Buffett

If it doesn’t grab a person right away, I find that you can talk to him for years and show him records, and it doesn’t make any difference. They just don’t seem able to grasp the concept, simple as it is.
Warren Buffett

I’ve never seen any one who became a gradual convert over a ten-year period to this approach. It doesn’t seem to be a matter of IQ or academic training. It’s instant recognition, or it is nothing.
Warren Buffett

But every time Perlmeter buys a stock it’s because he’s getting more for his money than he’s paying. That’s the only thing he’s thinking about. He’s not looking at quarterly earnings projections, he’s not looking at next year’s earnings, he’s not thinking about what day of the week it is, he doesn’t care what investment research from any place says, he’s not interested in price momentum, volume or anything. He’s simply asking what is the business worth?
Warren Buffett

[Value investors]…these investors are, mentally always buying the business, not buying the stock. But all exploit the difference between the market price of a business and it’s intrinsic value.
Warren Buffett

I’m convinced that there is much inefficiency in the market. These Graham-and-Doddsville investors have successfully exploited gaps between price and value.
Warren Buffett

Those who read their Graham and Dodd will continue to prosper.
Warren Buffett

Walter Lippmann spoke of men who plant trees that other men will sit under. Ben Graham was such a man.
Warren Buffett

Several years ago Ben Graham, then almost eighty, expressed to a friend the thought that he hoped every day to do ‘something foolish [whimsical], something creative and something generous.
Warren Buffett



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