Updated: May 29, 2021
Warren Edward Buffett is an American business magnate, investor philanthropist who serves as the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of US$84.9 billion third wealthiest person in the world.
Buffett has pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill and Melinda Gates foundation. He founded “ The Giving Pledge” in 2009 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes.
It was reported that Buffett did not like carrying a cell phone, does not have a computer at his desk, and drives his own car, a Cadillac DTS. It is said that In contrast to that, at the 2018 Berkshire Hathaway's shareholder meeting, he said he has probably sent just one email in his entire life and since 2013 owns an old Nokia flip phone.
Buffett's speeches are known for mixing business discussions with humor. Each year, Buffett presides over Berkshire Hathaway's annual shareholder meeting in the Omaha, Nebraska. This event draws a very large audience from both the United States and abroad, giving it the nickname "Woodstock of Capitalism". Berkshire's annual reports and letters to shareholders, prepared by Buffett, frequently receive coverage by the financial media.
Buffett's writings contain quotes from the bible and Mae West, as well as advice in a traditional style and numerous jokes. Below listed are few of my favorite quotes:
Warren Buffet Quotes:
1. I made my first investment at the age of 11. I was wasting my time up until then.
2. I always knew I was going to be rich. I don’t think I ever doubted it for a minute.
3. Never depend on a Single Income. Make Investment to Create a Second Source.
4. Rule No 1: Never Lose Money
5. Rule No 2: Never forget Rule No 1.
6. 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.
7. Honesty is a very expensive gift. Do not expect it from cheap people.
8. If you are in the luckiest one per cent of Humanity, you owe it to the rest of humanity to think about the other 99 per cent.
9. Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
10. I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business.
11. It is not necessary to do extraordinary things to get extraordinary results
12. The difference between successful people and really successful people is that really successful people say no to almost everything.
13. What counts for most people in investing is not how much they know, but rather how realistically they define what they don’t know.
14. You only have to do a very few things right in your life so long as you don't do too many things wrong.
15. Never test the depth of the river with both feet.
16. What we learn from history is that people don't learn from history.
17. There is nothing wrong with a ‘know nothing’ investor who realizes it. The problem is when you are a ‘know nothing’ investor but you think you know something.
18. The most common cause of low prices is pessimism—sometimes pervasive, sometimes 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
19. You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ
20. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you will do things differently.
21. Without passions you don’t have energy. Without energy. You have nothing.
22. Look for three things in a person – Intelligence, Energy and Integrity. If they don’t have the last one, don’t even bother with the first two.
23. If you don’t find a way to make money while you sleep, you will work until you die.
24. Don’t save what is left after spending but spend what is left after savings.
25. Someone is sitting in the shade today because someone planted a tree long time ago.
26. If you buy things you don’t need you will soon have to sell things you need.
27. It is better to hang out with people better than you. You will drift in that direction.
28. Instead of calling them role models, I call them heroes and I extremely lucky that my heroes let me down.
29. Time is the friend of the wonderful company, the enemy of the mediocre.
30. The secret to happiness is having low expectations.
31. Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don’t do too many things wrong.
32. 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.
33. Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can’t produce a baby in one month by getting nine women pregnant.
34. Chains of habit are too light to be felt until they are too heavy to be broken
35. We need a Country Unified.
36. The Stock market is a device for transferring from the impatient to the patient.
37. Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
38. The stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch. The problem when you’re a money manager is that your fans Swing, you bum!”.
39. You get recession, you have stock market declines. If you don’t understand what’s going to happen, then you’re not ready, you won’t do well in the markets.
40. In the business world, the rear view mirror is always clearer than the windshield.
41. Don’t compare yourself with anyone in this world…if you do so, you are insulting yourself.
42. The best investment you can make, is an investment in yourself……The more you learn, the more you’ll earn.
43. Be fearful when others are greedy and greedy and greedy when others are fearful.
44. You’re dealing with a lot of silly people in the market place; it’s like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be O.K.
45. Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.
46. Someone will always be getting richer faster than you. This is not a tragedy.
47. Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.
48. Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
49. Over the very long term, history shows that the chances of any business surviving in a manner agreeable to a company’s owners are slim at best.
50. In my whole life, I have known no wise people who didn’t read all the time – none, zero.
51. Price is what you pay, value is what you get.
52. Nothing sedates rationality like large doses of effortless money
53. You can’t make a deal with a bad person.
54. I tell college students, when you get to be my age you will be successful if the people who you hope to have love you, do love you
55. Invest in as much of yourself as you can, you are your own biggest asset by far.
56. I don't look to jump over seven-foot bars; I look around for one-foot bars that I can step over.
57. Your premium brand had better be delivering something special or it’s not going to get the business.
58. There seems to be some perverse human characteristic that likes to make easy things difficult.
59. The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
60. I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.
61. Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic