Warren Buffett is without question the most successful investor of our time (and possibly of all time).

His savvy deal making abilities coupled with his creative and cheerful personality allowed him to achieve success like no other. While searching the web for the comments he¶s made through the years, I found many insightful comments that truly show off Mr. Buffett¶s knowledge so I want to share 52 of these with you below! Let me know what you think! 1. 2. 3. 4. A public-opinion poll is no substitute for thought. 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. I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here. 5. I buy expensive suits. They just look cheap on me. 6. I don¶t have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It¶s like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GNP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don¶t do that though. I don¶t use very many of those claim checks. There¶s nothing material I want very much. And I¶m going to give virtually all of those claim checks to charity when my wife and I die. 7. I don¶t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over. 8. I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years. 9. If a business does well, the stock eventually follows. 10. If past history was all there was to the game, the richest people would be librarians.

Sir Isaac Newton gave us three laws of motion. 17. you¶ll do things differently. 15. Most people get interested in stocks when everyone else is. You can¶t buy what is popular and do well. . 23.¶ 18. 20.11. money just brings out the basic traits in them. If you think about that. 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. 22. Our favorite holding period is forever. It¶s far better to buy a wonderful company at a fair price than a fair company at a wonderful price. Of the billionaires I have known. they are simply jerks with a billion dollars. Have the purchase price be so attractive that even a mediocre sale gives good results. 19. Look at market fluctuations as your friend rather than your enemy. Pick out associates whose behavior is better than yours and you¶ll drift in that direction. 25. The time to get interested is when no one else is. profitfrom folly rather than participate in it. But Sir Isaac¶s talents didn¶t extend to investing: He lost a bundle in the South Sea Bubble. 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 µthinking outside the box. It¶s better to hang out with people better than you. 14. µI can calculate the movement of the stars. the rear view mirror is always clearer than the windshield. which were the work of genius. you owe it to the rest of humanity to think about the other 99 per cent. 13. Only buy something that you¶d be perfectly happy to hold if the market shut down for 10 years. Never count on making a good sale. but not the madness of men. 16. 26. Only when the tide goes out do you discover who¶s been swimming naked. Let blockheads read what blockheads wrote. returns decrease as motion increases 21. Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole. 24. Long ago. 12.¶ If he had not been traumatized by this loss. explaining later. If you¶re in the luckiest 1 per cent of humanity. It takes 20 years to build a reputation and five minutes to ruin it. In the business world. If they were jerks before they had money.

Risk is a part of God¶s game. Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway. which is never bright and clear. The business schools reward difficult complex behavior more than simple behavior.27. After a heady experience of that kind. 32. but simple behavior is more effective.1. 33. 28. alike for men and nations. The investor of today does not profit from yesterday¶s growth. 31. continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future ² will eventually bring on pumpkins . 30.1: Never lose money. They know that overstaying the festivities ² that is. Price is what you pay. Risk comes from not knowing what you¶re doing.2: Never forget rule No. becomes blurred still further when most market participants have recently enjoyed triumphs. normally sensible people drift into behavior akin to that of Cinderella at the ball. Nothing sedates rationality like large doses of effortless money. Rule No. 29. 34. The line separating investment and speculation. Rule No. Value is what you get.

35. It just means we go on to the next one. ³Too much of a good thing can be wonderful´. The smarter the journalists are. 47. We enjoy the process far more than the proceeds. 44. Therefore. For to a degree. As to how long we¶ll wait. There seems to be some perverse human characteristic that likes to make easy things difficult. 48. 41. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. We believe that according the name µinvestors¶ to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a µromantic. But they nevertheless hate to miss a single minute of what is one helluva party. We¶ve long felt that the only value of stock forecasters is to make fortune tellers look good. we¶ll wait indefinitely. but that doesn¶t cause us to stay up at night. 37. Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place. the better the student body. people read the press to inform themselves-and the better the teacher. When a management team with a reputation for brilliance tackles a business with a reputation for bad economics. 36. Even now. 46. away from children and also from grown-ups who behave in the market like children. There are all kinds of businesses that Charlie and I don¶t understand. the giddy participants all plan to leave just seconds before midnight. 38. 40. it is the reputation of the business that remains intact. energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks. Why not invest your assets in the companies you really like? As Mae West said. Time is the friend of the wonderful company. though: They are dancing in a room in which the clocks have no hands. Wide diversification is only required when investors do not understand what they are doing. the enemy of the mediocre. 49.¶ 42. . The only time to buy these is on a day with no ³y´ in it. Value is what you get. There¶s a problem. 39. 43.and mice. Should you find yourself in a chronically leaking boat. 45. the better off society is. We don¶t get paid for activity. just for being right. and that¶s what the individual investor should do.

I¶ve had periods in my life when I¶ve had a bundle of ideas come along. Which one is your favorite? Personally. So it¶s really no luck that he¶s named the wealthiest man of 2008 and hope that you¶ve learned something from these quotes. You only have to do a very few things right in your life so long as you don¶t do too many things wrong. You do things when the opportunities come along. If I get an idea next week. 52. I¶ll do something. If not.50. I really like #30 ± Never lose money! . or it¶s not going to get the business His savvy deal making abilities coupled with his creative and cheerful personality allowed him to achieve stock market success like no other. and I¶ve had long dry spells. Your premium brand had better be delivering something special. I won¶t do a damn thing. 51.

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