QUOTES

Warren Buffett

“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”
“Price is what you pay. Value is what you get.”
“You only have to do a very few things right in your life so long as you don’t do too many things wrong.”
we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”
“I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”
“I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.”
“If a business does well, the stock eventually follows.”
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
“Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.”
“The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage. The products or services that have wide, sustainable moats around them are the ones that deliver rewards to investors.”

“The stock market is filled with individuals who know the price of everything, but the value of nothing.”
“The investor cannot pinpoint just how much per share a particular company will earn two years from now. As a matter of fact, the company’s top management cannot. Under these circumstances, how can anyone say with even moderate precision just what is overpriced for an outstanding company with an unusually rapid growth rate? If the growth rate is so good that in another ten years the company might well have quadrupled, is it really of such great concern whether at the moment the stock might or might not be 35% overpriced? That which really matters is not to disturb a position that is going to be worth a great deal more later.”

“In the short run, the market is a voting machine. But in the long run, it is a weighing machine.”
“You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right.”

“It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.”
“A great business at a fair price is superior to a fair business at a great price.”