Quotes by Warren Buffett
In the business world, the rearview mirror is always clearer than the windshield.
Wide diversification is only required when investors do not understand what they are doing.
I violated the Noah rule: Predicting rain doesn't count; building arks does.
If you have a harem of 40 women, you never get to know any of them very well.
It's only when the tide goes out that you discover who's been swimming naked.
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.
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.
The only time to buy these is on a day with no 'y' in it.
Be fearful when others are greedy, and be greedy when others are fearful.
I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.