Warren Buffett

“If past history was all there was to the game, the richest people would be librarians.”

“I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”

“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.”

“The best place to learn ethics is in the home.”

“Chains of habit are too light to be felt until they are too heavy to be broken.”

“We can afford to lose money – even a lot of money. But we can’t afford to lose reputation – even a shred of reputation.”

“There's plenty of money to be made in the center of the court.”

Biennial letter to Berkshire Hathaway Manager...

“If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.”

“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.”

“We make silk purses out of silk.”

http://www.youtube.com/watch?v=7I7utGAEhDI&t=...

“In the business world, the rearview mirror is always clearer than the windshield.”

“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”

“Read 500 pages like this every day. That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”

“It's a very strange thing, love. You can't get rid of it. If you try to give it out, you get more back. If you try to hang onto it, you lose it.”

Becoming Warren Buffett

“If you wait until you see the robin, spring will be over.”

“You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.”

http://www.cnbc.com/id/101573765

“Shortly after I met Bill Gates, Bill's dad asked each of us to write down on a piece of paper one word that would best describe what had helped us the most. Bill and I, without any collaboration at all, each wrote the word "focus.”

Becoming Warren Buffett

“Rule No. 1: Never lose money; rule No. 2: Don’t forget rule No. 1.”

“If you're emotional about investment, you're not going to do well. You may have all these feelings about the stock. The stock has no feelings about you.”

Becoming Warren Buffett

“Our favorite holding period is forever.”

“Your premium brand had better be delivering something special, or it's not going to get the business.”

“When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”

“We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'”

“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.”