Quotes by Warren Buffett

“ ...not doing what we love in the name of greed is very poor management of our lives. ”

“ If you buy things you do not need, soon you will have to sell things you need. ”

“ I am not a businessman, I am an artist. ”

“ I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful. ”

“ So smile when you read a headline that says “Investors lose as market falls.” Edit it in your mind to “Disinvestors lose as market falls—but investors gain.” Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: “Every putt makes someone happy.”) ”

“ Wall Street is the only place that people drive to in a Rolls Royce to take advice from people who ride the subway. ”

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

“ We don’t have to be smarter than the rest. We have to be more disciplined than the rest. ”

“ If you aren't thinking about owning a stock for ten years, don't even think about owning it for ten minutes. ”

“ [Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head. ”

“ You know, you keep doing the same things and you keep getting the same result over and over again. ”

“ Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas. ”