Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor and philanthropist. He is considered by some to be one of the most successful investors in the world. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway, and is consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest in 2015. In 2012 Time named Buffett one of the world's most influential people...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth30 August 1930
CityOmaha, NE
CountryUnited States of America
We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as "focused" investing.
When they get their ego involved, people do things they shouldn't do.
We would do best in a market where everyone acted foolishly.
You can be sure that over the next 10 years, you'll see something that you did not think was possible.
You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it. The other reason is I never thought I would be way happier when I had 2X instead of X. You ought to have a good time all the time as you go along.
We rarely use much debt and, when we do, we attempt to structure it on a long-term fixed rate basis. We will reject interesting opportunities rather than over-leverage our balance sheet. This conservatism has penalized our results but it is the only behavior that leaves us comfortable, considering our fiduciary obligations to policyholders, depositors, lenders and the many equity holders who have committed unusually large portions of their net worth to our care.
Charlie and I have a number of filters that things have to get through before we'll think about them.
... not doing what we love in the name of greed is very poor management of our lives.
When the brothel burns down, even the pretty girls have to run out.
If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks more cheaply to your portfolio.
I've made money over the years by buying into good companies, run by good people, at attractive prices. And I don't try and make it out of buying into the market at one point and selling at another point.
Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.
If you buy the things you don't need, you will soon be selling the things that you need.
Always associate yourself with people who are better than you.