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Warren Buffett Quotes

19 October 2008 37,253 views No Comment

Some inspiring Quotes from one of the greatest investers the US has. Warren Buffet

  • The future is never clear, and you pay a very high price in the stock market for a cheery consensus. Uncertainty is the friend of the buyer of long-term values.
  • I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful
  • I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over
  • The most common cause of low prices is pessimism – some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It’s optimism that is the enemy of the rational buyer.
  • I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
  • If you’re an investor, you’re looking on what the asset is going to do, if you’re a speculator, you’re commonly focusing on what the price of the object is going to do, and that’s not our game.
  • It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
  • It is only when the tide goes out, that you know who was swimming naked.
  • The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable.
  • I call investing the greatest business in the world because you never have to swing. You stand at the plate, the pitcher throws you General Motors at 47! U.S. Steel at 39! and nobody calls a strike on you. There’s no penalty except opportunity lost. All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.
  • Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
  • Our favourite holding period is forever.
  • Risk comes from not knowing what you’re doing.
  • When asked how he became so successful in investing, Buffett answered: we read hundreds and hundreds of annual reports every year.
  • I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that. “I’m paying $32 billion today for the Coca Cola Company because…” If you can’t answer that question, you shouldn’t buy it. If you can answer that question, and you do it a few times, you’ll make a lot of money
  • Managers thinking about accounting issues should never forget one of Abraham Lincoln’s favorite riddles: `How many legs does a dog have if you call his tail a leg?’ The answer: `Four, because calling a tail a leg does not make it a leg’.
  • It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
  • Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.
  • Price is what you pay. Value is what you get.
  • I want to be able to explain my mistakes. This means I do only the things I completely understand
  • Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway

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