Born: August 30, 1930
Birthplace: Omaha, Nebraska, U.S.A.
Occupation: Businessman, Investor, and Philanthropist
Profile: CEO and Chairman of Berkshire Hathaway. Ranked as the third wealthiest person in the world as of 2011.
Number of Quotes: 17
Business is all about putting out money today to get a whole lot back later.
I don't pay attention to what the stock does. If the business does well, the stock eventually follows.
I've learned the perimeter of my circle of confidence.
Managerial intellect wilted in competition with managerial adrenaline. The thrill of the chase blinded pursuers to the consequences of the chase.
My friends and I have been coddled long enough by a billionaire-friendly Congress.
Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked.
One's objective should be to get it right, get it quick, get it out, and get it over ... your problem won't improve with age.
Our favorite holding period is forever.
Take Wrigley's Chewing Gum. I don't think the Internet is going to change how people chew gum.
The attitude of disrespect that many executives have today for accurate reporting is a business disgrace. And auditors ... have done little on the positive side. Though auditors should regard the investing public as their client, they tend to kowtow instead to the managers who choose them and dole out their pay.
The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.
The funny thing is better TV shows don't cost that much more than lousy TV shows.
The market will pay better to entertain than educate.
The true investor welcomes volatility ... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.
The truly big investment idea can usually be explained in a short paragraph. We like a business with enduring competitive advantages that is run by able and owner-oriented people. When these attributes exist, and when we can make purchases at sensible prices, it is hard to go wrong.
Wall Street is the only place people ride to in a Rolls Royce to get advice from people who take the subway.
Your goal as an investor ... to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are virtually certain to be materially higher ... years from now. Over time, you will find only a few companies that meet these standards - so when you see one ... buy a meaningful amount of stock.