If you want to soar like an eagle in life, you can’t be flocking with the turkeys.
We have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.
Fear is the foe of the faddist, but the friend of the fundamentalist.
Well, it may be all right in practice, but it will never work in theory.
Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.
Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.
Having a large amount of leverage is like driving a car with a dagger on the steering wheel pointed at your heart. If you do that, you will be a better driver. There will be fewer accidents but when they happen, they will be fatal.
The best investment you can make is in yourself.
Diversification is protection against ignorance. It makes little sense if you know what you are doing.
If I subscribed to the efficient market theory I would still be delivering papers.
The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.
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.
Never do anything in life if you would be ashamed of seeing it printed on the front page of your hometown newspaper for your friends and family to see.
It’s never paid to bet against America.
The .350 hitter expects, and also deserves, a big payoff for his performance – even if he plays for a cellar-dwelling team. And a .150 hitter should get no reward – even if he plays for a pennant winner.
Wild swings in share prices have more to do with the “lemming- like” behaviour of institutional investors than with the aggregate returns of the company they own.
If horses had controlled investment decisions, there would have been no auto industry.
What’s nice about investing is you don’t have to swing at every pitch.
There are all kinds of businesses that Charlie and I don’t understand, but that doesn’t cause us to stay up at night. It just means we go on to the next one, and that’s what the individual investor should do.
Would you rather be the world’s greatest lover, but have everyone think you’re the world’s worst lover? Or would you rather be the world’s worst lover but have everyone think you’re the world’s greatest lover? Now, that’s an interesting question.