You can lose leverage, and it's the only way a smart guy can go broke. Warren Buffett More Quotes by Warren Buffett More Quotes From Warren Buffett A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting. Warren Buffett investingpredictionspersons We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind. Warren Buffett obligationfiguresshare Valuing a business is part art and part science. Warren Buffett investingart The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price. Warren Buffett buffetsinvestmentinvesting If you are a professional and have confidence, then I would advocate lots of concentration. Warren Buffett have-confidenceconcentrationifs The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective. Warren Buffett businesswarschool I measure success by how many people love me. And the best way to be loved is to be lo veable. Warren Buffett measure-of-successpeopleway Money will always flow toward opportunity, and there is an abundance of that in America. Warren Buffett flowopportunityamerica I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits. Warren Buffett businesskindnessrunning Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are. Warren Buffett love-youpeopleinteresting Our approach is very much profiting from lack of change rather than from change. Warren Buffett investing-moneygumbuffets The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd. Warren Buffett qualityimportantneeds In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen. I think that things were clear during the bubble as to what would happen eventually. Warren Buffett financialeasythinking Always invest for the long term. Warren Buffett investingtermlong I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent. Warren Buffett centsmillions If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices. Warren Buffett nextyearsfall That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods. Warren Buffett nicerunningcountry We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.' Warren Buffett romantic-lovenightbelieve We have to live with the rest of the world. And it's a mistake, in my view. Trade has generally developed in this country. We actually export 12 or 13 percent of our GDP. It was only 5 percent in 1970. But it benefits us. It benefits the rest of the world. It doesn't benefit the steelworker maybe in Ohio. And that's the problem that has to be addressed, because when you have something that's good for society, but terribly harmful for given individuals, we have got to make sure those individuals are taken care of. Warren Buffett takenmistakecountry I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age? Warren Buffett jobslifesex
