Someone's sitting in the shade today because someone planted a tree a long time ago.
I always knew I was going to be rich. I don't think I ever doubted it for a minute.
If a business does well, the stock eventually follows.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
If past history was all there was to the game, the richest people would be librarians.
There seems to be some perverse human characteristic that likes to make easy things difficult.
Our favorite holding period is forever.
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.
Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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.
A public opinion poll is no substitute for thought.
You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
The investor of today does not profit from yesterday's growth.
We enjoy the process far more than the proceeds.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
Risk comes from not knowing what you're doing.
The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
You only have to do a very few things right in your life so long as you don't do too many things wrong.
I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
Price is what you pay. Value is what you get.