Warren Buffett’s 25 Best Quotes on Business, Investing, and Life – The Madison Leader Gazette


Need advice? Legendary investor and CEO of Berkshire Hathaway (BRK-A, BRK-B) Warren Buffett has a lot to share. Through his letters, essays, opinion pieces, and television appearances, Buffett gives folkloric, fun, and straightforward advice on investing, management, life, happiness, and everything in between.

On Saturday, May 1, Buffett and his longtime business partner Charlie Munger will share their wisdom further at the Berkshire Hathaway 2021 annual shareholders meeting. Like last year, shareholders will not be attending the event in person. due to the COVID-19 pandemic, but investors around the world can watch the event live exclusively on Yahoo Finance.

Yahoo Finance editors unearthed some of Buffett’s best words, tips, and adages from meeting transcripts, shareholder letters, and interviews.

1. Trust American ingenuity.

“American magic has always prevailed and it will do so again.”

Shareholders meeting, 2020

2. Don’t be a fear sower.

“Fear is the most contagious disease you can imagine. It makes the virus look like a piker. “(A piker is one who plays with small amounts of money.)

Shareholders meeting, 2020

3. Learn the language.

“You have to understand accounting. You have to. It must be like a language for you ”

Interview with Andy Serwer, Editor-in-Chief of Yahoo Finance, 2020

4. Go long.

“[Our] the preferred detention period is eternal. We are the complete opposite of those who rush to sell and book profits when companies are doing well, but tenaciously cling to companies that disappoint. [American investor] Peter Lynch aptly compares such behavior to cutting flowers and watering weeds. “

Letter to shareholders for the year 1988

5. Invest in businesses that you believe in.

“It’s far better to buy a great business at a fair price than a fair business at a great price.”

Letter to shareholders for the year 1989

6. Price and value aren’t always the same: don’t overpay.

“The price is what you pay for. Value is what you get. “

Letter to shareholders for 2008

7. Reputation is everything.

“Lose money for the business, and I’ll understand; lose an ounce of reputation for the company, and I will be ruthless. “

– Buffett’s testimony to Congress in 1991 regarding Salomon Brothers

8. Be skeptical. If something sounds too good to be true …

“A simple rule dictates my purchase: be afraid when others are greedy, and be greedy when others are afraid.”

The New York Times, October 16, 2008

9. Don’t invest in something you don’t understand.

The important thing is to know what you know and to know what you don’t know. “

Haaretz, March 23, 2011

10. Don’t market with someone you don’t trust.

“You can’t do a good deal with a bad person.”

– CNBC, 2019

11. Don’t buy a stock unless you think it’s undervalued.

“You just have to buy something for less than it’s worth.”

– Lecture at Notre Dame faculty, 1991

12. Price cuts are an opportunity to increase your positions.

“Whether it’s socks or inventory, I like to buy quality products when they are reduced.”

– Letter to shareholders for 2008

13. The future is never clear.

“Uncertainty is in fact the friend of the buyer of long-term securities.”

Forbes, August 6, 1979

14. It is usually the buyer who encounters unpleasant surprises.

As in the case of marriage, business acquisitions are often surprising after the “I do”. “

Letter to shareholders for 2016

15. Park your money in index funds rather than individual stocks.

“In my opinion, for most people, the best thing to do is own the S&P 500 index fund. There is huge sums of money people pay for advice they really don’t need. . “

Shareholders meeting, 2020

16. Use a bucket, not a spoon.

“Every ten years or so, dark clouds will fill the economic sky, and they will briefly rain gold.”

Letter to shareholders for 2016

17. Grab an opportunity while you can.

“Don’t miss out on something attractive today because you think you’ll find something better tomorrow.”

– Speech at Columbia University, November 12, 2009

Warren Buffett, chairman and CEO of Berkshire Hathaway, eats an ice cream bar while touring the exhibition floor ahead of the annual meeting of shareholders on Saturday May 3, 2014 in Omaha, New Brunswick (AP Photo / Nati Harnik)

18. Stay cool.

“The more ridiculous the behavior of the market, the greater the opportunity for the professional investor.”

Preface, “The intelligent investor”, 2003

19. It is during tough times that the winners – and the losers – are exposed.

“We only learn who swam naked when the tide goes out.”

Letter to shareholders for 2007

Warren Buffett, President and CEO of Berkshire Hathaway launches a newspaper at a newspaper launch competition in Omaha, Neb., Saturday May 5, 2012. Berkshire Hathaway is holding its annual meeting of shareholders this weekend .  (AP Photo / Nati Harnik)

Warren Buffett, President and CEO of Berkshire Hathaway launches a newspaper at a newspaper launch competition in Omaha, Neb., Saturday May 5, 2012. Berkshire Hathaway is holding its annual meeting of shareholders this weekend . (AP Photo / Nati Harnik)

20. Read and think A LOT. Buffett spends most of his day – 80% – reading and thinking.

“The best way to think about investing is to be in a room with no one else and just think. If that doesn’t work, nothing else will work. “

– Symposium at the University of Florida, October 15, 1998

21. Buffett has long said that it doesn’t take a high IQ to be successful in business – knowledge is more valuable.

“What we do is not beyond anyone’s competence. I feel the same about managing as I do about investing: You just don’t have to do amazing things to get amazing results.

Fortune, April 11, 1988

22. Follow the rules (although Buffett readily admits making his own mistakes.)

“Rule # 1 is never to lose money. Rule # 2 is to never forget rule # 1. “

1985 TV interview with economics broadcaster George Goodman

23. Keep this in mind if you are looking for a board position:

“When looking for directors, CEOs aren’t looking for pit bulls. It is the cocker spaniel that is brought home.

Letter to shareholders for 2019

24. Be thrifty. With the exception of his private jet, Buffett is renowned for his sobriety and has lived in the same house since 1958.

“I have everything I want. I have a lot of friends who have a lot more possessions. But in some cases, I feel like possession owns them, rather than the other way around.

– CBS News, February 8, 2012

25. You are your best asset.

“Your best investment is yourself. There is nothing like it. “

Georgia Tech Alumni Magazine, 2013

Berkshire Hathaway Annual General Meeting 2021

Berkshire Hathaway Annual General Meeting 2021

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