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Warren Buffett Quotes - Page 18

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Long ago, Ben Graham taught me that Price is what you pay; value is what you get. Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

Long ago, Ben Graham taught me that "Price is what you pay; value is what you get." Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

Long Ago, Investing, Buffets

Berkshire Hathaway Inc. Chairman's Letter, 2008.

Continually challenge and be willing to amend your best loved ideas.

Best Love, Ideas, Challenges

I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.

Running, Kindness, Business

Letter To the Shareholders of Berkshire Hathaway Inc., www.berkshirehathaway.com. February 27, 2009.

What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

Information, Conclusion, Humans

"How the web distorts reality and impairs our judgement skills" by Tomas Chamorro-Premuzic, www.theguardian.com. May 13, 2014.

With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock

Should Have, Investment, Conviction

Getting fired can produce a particularly bountiful payday for a CEO. Indeed, he can 'earn' more in that single day, while cleaning out his desk, than an American worker earns in a lifetime of cleaning toilets. Forget the old maxim about nothing succeeding like success: Today, in the executive suite, the all-too-prevalent rule is that nothing succeeds like failure.

Toilets, Today, Succeed

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.89, John Wiley & Sons

Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.

Crazy, Play, Credit

If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?

Reality, Records, World

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.")

Hurt, Fall, Golf

Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.

Greek, Investing, Letters

If you gave me $100 billion and said take away the soft drink leadership of Coca-Cola in the world, I'd give it back to you and say it can't be done.

Giving, Soft Drinks, Done

I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.

Loyalty, Smoking, Dollars

"Where should I invest my savings?" by Lucy Siegle, www.theguardian.com. July 23, 2006.

Occasionally, a man must rise above principles.

Men, Principles, Rise Above

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.126, John Wiley & Sons

If you are a professional and have confidence, then I would advocate lots of concentration.

Concentration, Have Confidence, Ifs

Your premium brand had better be delivering something special, or it's not going to get the business.

Life, Success, Business

You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.

War, Opportunity, Investing Money

You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress.

Investing Your Time, Causes, Common

The value of market esoterica to the consumer of investment advice is a different story. In my opinion, investment success will not be produced by arcane formulae, computer programs or signals flashed by the price behavior of stocks and markets. Rather an investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace.

Investment Success, Advice, Succeed

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.

Add, Investing, Way

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.

Running, Years, People

There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive advantage. [The third is having a true investor's attitude toward the stock market, which] if you have that attitude, you start out ahead of 99 percent of all the people who are operating in the stock market - it's an enormous advantage.

Attitude, Views, Safety

The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball.

Investing Money, People, Triumph

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.163, John Wiley & Sons

Take the job you would take if you were independently wealthy. You're going to do well at it.

Jobs, Play, Wealthy

"Warren Buffett's career advice". money.cnn.com.

In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.

Business, Mass Destruction, Views

Investment must be rational; if you can't understand it, don't do it.

Investment, Rational, Ifs

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