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
Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.
Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
Buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either.
You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map.
Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.
If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.
As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.
Never be afraid to ask for too much when selling or offer too little when buying.
Cultivate curiosity and strive to become a little wiser every day.
When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
I've never seen a system as good as Coke has now.
Right now, the rest of the world owns $3 trillion US more of us than we own of them.
Berkshire's board has fully discussed each of the three CEO candidates and has unanimously agreed on the person who should succeed me if a replacement were needed today. The directors know now - and will always know in the future - exactly what they will do when the need arises.
Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.