Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a prospective owner.
There’s no use running if you’re on the wrong road.
Take the job you would take if you were independently wealthy. You’re going to do well at it.
Stop trying to predict...
A home is one of the most important assets that most people will ever buy. Homes are also where memories are made and you want to work with someone you can trust.
Returns decrease as motion increases.
It’s not that I want money. It’s the fun of making money and watching it grow.
The advice “you never go broke taking a profit” is foolish.
You can be sure that over the next 10 years, you’ll see something that you did not think was possible.
Always associate yourself with people who are better than you.
Fund consultants like to require style boxes such as “long-short,” “macro,” “international equities.” At Berkshire our only style box is “smart.”
Our marketable equities tell us by their operating results – not by their daily, or even yearly, price quotations – whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it.
We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as “focused” investing.
When they get their ego involved, people do things they shouldn’t do.
We would do best in a market where everyone acted foolishly.
There is nothing like writing to force you to think and get your thoughts straight.
I would say that life at 84, I am having as much fun as I’ve ever had in my life. I mean I get to do what I love every day with the people I love-and it just doesn’t get any better than that.
I make plenty of mistakes and I’ll make plenty more mistakes, too. That’s part of the game. You’ve just got to make sure that the right things overcome the wrong ones.
Personally, I really hope I can treat everyone equally. I think I have done a pretty good job so far but I know I can do it better.
If you cannot control your emotions, you cannot control your money.