Warren Buffett Quotes

The first rule is not to lose. The second rule is not to forget the first rule.

When you combine ignorance with leverage you get some pretty interesting results.

The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.

You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ.

Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.

For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.

Diversification may preserve wealth, but concentration builds wealth.

With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock.

John Maynard Keynes essentially said, don't try and figure out what the market is doing. Figure out a business you understand, and concentrate.If the business does well, the stock eventually follows.

Full-time professionals in other fields, let's say dentists, bring a lot to the layman. But in aggregate, people get nothing for their money from professional money managers.

Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.

Many corporate managers deplore governmental allocation of the taxpayer's dollar but embrace enthusiastically their own allocation of the shareholder's dollar [to charities of their own choosing]. We've yet to find a CEO who believes he should personally fund the charities favored by his shareholders. Why, then should they foot the bill for his picks?

The professors who taught Efficient Market Theory said that someone throwing darts at the stock tables could select stock portfolio having prospects just as good as one selected by the brightest, most hard-working securities analyst. Observing correctly that the market was frequently efficient, they went on to conclude incorrectly that it was always efficient.

A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

Occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics is equally unpredictable, both as to duration and degree. Therefore we never try to anticipate the arrival or departure of either. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.