Warren Buffett's Top 10 Rules for Success – YouTube, uploaded by Evan Carmichael, 2015 - Warren Buffett

Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.

Diversification is protection against ignorance. It makes little sense if you know what you are doing.

A CEO’s behavior has a huge impact on managers down the line: If it’s clear to them that shareholders’ interests are paramount to him, they will, with few exceptions, also embrace that way of thinking.