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Warren Buffett Quotes - Page 21

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If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds,

If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.

Country, Wall, Perfect

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "Charlie Rose", www.cnbc.com. October 1, 2008.

I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the finanical system to let me do what I love doing-and make a lot of money doing it. The least I can do is help pay for all that.

Law, Pay, Lucky

"The Audacity of Hope: Thoughts on Reclaiming the American Dream". Book by Barack Obama, www.newyorker.com. 2006.

If you're in a card game and you can't figure out who the patsy is, you're it.

Games, Cards, Figures

So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense.

Guy, May, Management

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "Charlie Rose", www.cnbc.com. October 1, 2008.

Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation

Should, Speculation, Higher

... but the important thing is that when you do find one where you really do know what you are doing, you must buy in quantity.... Charlie and I have made a dozen or so very big decisions relative to net worth, although not as big as they should have been. And in each of those, we've known that we were almost certain to be right going in.

Should Have, Decision, Important

If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.

Zero, Smart, People

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "Charlie Rose", www.cnbc.com. October 1, 2008.

Mr. Market is your servant, not your guide.

Guides, Servant

It irritates the hell out of me but you can't buy love.

Hell

I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.

Mean, Animal, Humans

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "Charlie Rose", www.cnbc.com. October 1, 2008.

The three most important words in investing...Margin of Safety.

Safety, Important, Three

Turnarounds seldom turn.

Investing, Turnaround, Turns

"When I Met the Legends of Investing - Part 3" by Vishal Khandelwal, www.safalniveshak.com. December 12, 2012.

A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.

Investing, Predictions, Persons

"Financial Experts Could Be Hazardous to Your Wealth" by Dr. Robert R. Johnson, www.huffingtonpost.com. March 6, 2017.

An investor needs to do very few things right as long as he or she avoids big mistakes.

Mistake, Long, Needs

"3 Insights on The Future from Warren Buffett and Charlie Munger" by Taylor Pearson, www.huffingtonpost.com. August 19, 2016.

When Berkshire Hathaway laid out three billion dollars for GE today, we didn't spend it, we invested it. When the Federal government buys the mortgages, they're not spending it, they're investing it. Now, they're investing it in distress type assets but they're buying them at distress prices if they buy them at market. It's the kind of stuff I love to do. I just don't have 700 million. Maybe we could go in it together.

Government, Together, Three

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". Interview With Charlie Rose, www.cnbc.com. October 1, 2008.

The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.

Machines, Investing, Return

Of our 49 billion, we haven't moved any to Bitcoin

Bitcoin, Billions, Havens

You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

Three, Idiot, Progression

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "Charlie Rose", www.cnbc.com. October 1, 2008.

What we learn from history is that people don't learn from history.

Learning, People, History

Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.

Purpose, Making Money, Backbone

Do what you love and work for whom you admire the most, and you've given yourself the best chance in life you can.

Chance, Given, Admire

Speech at Terry College of Business at the University of Georgia, 2001.

The greater the potential for reward in the value portfolio, the less risk there is.

Risk, Rewards, Portfolios

Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.231, John Wiley & Sons

In the search [of a deal], we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.

Attitude, Doe, Might

In a commodity business, it's very hard to be smarter than your dumbest competitor.

Investing, Commodity, Competitors

It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market you don't base your decisions on what the market is doing, but on what you think is rational. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.

Loss, Exercise, Thinking

"The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy". Book by Robert G. Hagstrom (p. 112), 2000.

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