Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.
If you aren't thinking about owning a stock for ten years, don't even think about owning it for ten minutes.
Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning. I think you are out of your mind if you keep taking jobs that you don’t like because you think it will look good on your resume. Isn’t that a little like saving up sex for your old age?
Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you.
I won’t close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.
Tell me who your heroes are and I’ll tell you how you’ll turn out to be.
If you don’t find a way to make money while you sleep, you will work until you die.
It is madness to risk losing what you need in pursuing what you simply desire.
Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.
We don’t have to be smarter than the rest. We have to be more disciplined than the rest.
The Stock Market is designed to transfer money from the Active to the Patient.
The key to success is emotional stability.
Read 500 pages every day. That’s how knowledge works. It builds up like compound interest.
No matter how great the talent or efforts, some things just take time.
Investing requires qualities of temperament way more than it requires qualities of intellect.
During inflation, Goodwill is the gift that keeps on giving.
If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.
A CEO’s behavior has a huge impact on managers down the line.