Warren Buffett Quotes

You try to be greedy when others are fearful and you try to be very fearful when others are greedy.

• investing

The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.

• investing

Rule number one: never lose money. Rule number two: never forget rule number one.

• investing

The very term "value investing" is redundant. What is investing if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labeled speculation (which is neither illegal, immoral nor -- in our view -- financially fattening).

• investing

We select our marketable equity securities in much the way we would evaluate a business for acquisition in its entirety. We want businesses to be one (a) that we can understand; (b) with favorable long-term prospects; (c) operated by honest and competent people; and (d) available at a very attractive price.

• investing

Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.

• investing

Understand the context.

It's your responsibility if you're buying it. And there's got to be a reason. And if you can't state the reason, you shouldn't buy it.

• investing

What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.

• investing

The disadvantage of being in any kind of a market type environment - and Wall Street would be the extreme - is that you get over stimulated. You think you have to do something every day.

• investing