When Berkshire buys common stock, we approach the transaction as if we were buying into a private business. Warren Buffett More Quotes by Warren Buffett More Quotes From Warren Buffett The key to success is emotional stability. Warren Buffett key-to-successemotionalkeys If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference. Warren Buffett differenceslosingprayer 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. Warren Buffett buffetsinvesting-your-timepeople You don't need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well. Warren Buffett everyday-thingseffortordinary Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble. Warren Buffett importantknowingthinking Never depend on a single source of income. Warren Buffett dependsincomesource When it's raining gold, reach for a bucket, not a thimble. Warren Buffett bucketsgoldrain If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing. Warren Buffett richgivingchildren Learning how to live is much more important than learning how to make a living. Warren Buffett inspirational-lifeimportant Cultivate curiosity and strive to become a little wiser every day. Warren Buffett strivecuriositylittles It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction. Warren Buffett moneybusinessfunny The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient. Warren Buffett efficientwealthpatient If the reason for doing something is that everyone else is doing it, it's not a good enough reason. Warren Buffett good-enoughenoughreason We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely. Warren Buffett insightfulwaitinglong The most important quality for an investor is temperament, not intellect. Warren Buffett buffetsqualityimportant The secret to happiness is having low expectations. Warren Buffett secretexpectationslows Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results. Warren Buffett buffetsinvestinggiving The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer. Warren Buffett optimismsavingenemy Success is having people love you that you want to have love you. Warren Buffett wantlove-youpeople Things you like to do should be a hobby of yours, but things the world does should be a business of yours. Warren Buffett hobbiesdoeworld
