Quotes By Warren Buffett

Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices.

Cash, though, is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent... When bills come due, only cash is legal tender. Don't leave home without it.

It is better to point out your own mistakes than have somebody else do it.

The value of a business is the cash it's going to produce in the future.

Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.

Stocks are the only thing that people are happy to buy when the price goes up.

Buy companies with strong histories of profitability and with a dominant business franchise.

You can be sure that over the next 10 years, you'll see something that you did not think was possible.

Sound investing can make you very wealthy if you're not in too big a hurry.

Investing in yourself is the best thing you can do. If you've got talents, no one can take them from you.

Don't invest in pieces of papers (stocks), invest in great businesses underlying them.

A fool and his money are soon invited everywhere.

Basically, the single-most important decision in evaluating a business is pricing power.

If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.

I was lucky to have the right heroes. Tell me who your heroes are and I'll tell you how you'll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming.

Investing is laying out money now to get more money back in the future.

Buy a business, don't rent stocks.

I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just gotta make sure that the right things overcome the wrong ones.

When people tell me they've learned from experience, I tell them the trick is to learn from other people's experience.