Warren Buffett Quotes

Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble. "25 Best Warren Buffett Quotes" The Motley Fool (28 September 2014)

Risk comes from not knowing what you're doing

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.

The difference between successful people and very successful people is that very successful people say “no” to almost everything.

But now for the final exam: If you expect to be a net saver during the next five 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. In effect, they rejoice because prices have risen for the "hamburgers" they will soon be buying. 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.

Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.

Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.

Anyone can read what I read, this is a fair playing field

Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.

For investors as a whole, returns decrease as motion increases.

The only time to buy these is on a day with no 'y' in it.

What the wise man does in the beginning, the fool does in the end

When returns on capital are ordinary, an earn-more-by-putting-up-more record is no great managerial achievement. You can get the same result personally while operating from your rocking chair. Just quadruple the capital you commit to a savings account and you will quadruple your earnings. You would hardly expect hosannas for that particular accomplishment. Yet, retirement announcements regularly sing the praises of CEOs who have, say, quadrupled earnings of their widget company during their reign — with no one examining whether this gain was attributable simply to many years of retained earnings and the workings of compound interest.

The best thing you can do is to be exceptionally good at something.

You might think that institutions, with their large staffs of highly-paid and experienced investment professionals, would be a force for stability and reason in financial markets. They are not: