“Price is what you pay. Value is what you get.” Berkshire Hathaway shareholder letters investingmoney
“Be fearful when others are greedy and greedy when others are fearful.” Berkshire Hathaway shareholder letters investing
“It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” Berkshire Hathaway 1989 shareholder letter investing
“You're dealing with a lot of silly people in the marketplace'''; it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be O.K.” leadershipinvesting
“I'll tell you why I like the cigarette business. ... It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty.” executionmoney
“Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.” money
“I like thinking big. I always have. To me it's very simple: if you're going to be thinking anyway, you might as well think big.” mindset
“Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.” leadership
“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.” moneyinvestingstartups
“We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.” execution
“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.” executionleadershipinvesting
“The best thing that happens to us is when a great company gets into temporary trouble... We want to buy them when they're on the operating table.” startups
“A very low cost index fund where you don't put in all your money at one time ... If you accumulate a low cost index fund over 10 years ... with fairly regular sums, I think you will probably do better than 90% of the people around you that take up investing at a similar time.” executionleadershipmoney
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” executionmindset
“You couldn't advance in a finance department in this country unless you taught that the world was flat.” mindset
“The 400 of us pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you're in the luckiest 1 percent of humanity, you owe it to the rest of humanity to think about the other 99 percent.” executionmindset
“People will always try to stop you doing the right thing if it is unconventional.” executionleadership
“You want to be greedy when others are fearful. You want to be fearful when others are greedy. It's that simple. ... They're pretty fearful. In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.” executionleadershipmindset
“I could end the deficit in five minutes. You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.” mindset
“Can you really explain to a fish what it's like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value.” mindset
“Our performance, relatively, is likely to be better in a bear market than in a bull market ... in a year when the general market had a substantial advance, I would be well satisfied to match the advance of the averages.” investingrisk
“Management's objective is to achieve a return on capital over the long term which averages somewhat higher than that of American industry generally — while utilizing sound accounting and debt policies.” leadership
“An irresistible footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities — at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.” leadershipmoneyinvesting
“It's simply to say that managers and investors alike must understand that accounting numbers is the beginning, not the end, of business valuation.” leadershipinvesting
“Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.” moneyinvesting
“Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.” investing