Energy deregulation will be the largest transfer of wealth in history.
The greater the potential for reward in the value portfolio, the less risk there is.
I made my first investment at age eleven. I was wasting my life up until then.
You should invest in a business that even a fool can run, because someday a fool will.
The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves – and the better the teacher, the better the student body.
Investing is forgoing consumption now in order to have the ability to consume more at a later date.
Making money isn’t the backbone of our guiding purpose; making money is the by-product of our guiding purpose. If you’re doing something you love, you’re more likely to put your all into it, and that generally equates to making money.
There is no substitute for a local newspaper that is doing its job.
You don’t need to be an expert in order to achieve satisfactory investment returns. But if you aren’t, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don’t swing for the fences.
Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.
In the long run managements stressing accounting appearance over economic substance usually achieve little of either.
The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.
The only time to buy these is on a day with no ‘y’ in it.
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.
Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
You should invest like a Catholic marries: for life.
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?
I want to be able to explain my mistakes. This means I do only the things I completely understand.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
I measure success by how many people love me. And the best way to be loved is to be loveable.