Focus alone is not enough; putting in the time to commit is also crucial to achieve success.
Never depend on a single source of income.
It's better to build than to buy if you can find the right people.
If book knowledge made great investors, than the librarians would all be rich.
[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
Tell me your heroes and I'll tell you how your life will end up
Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
Never risk what you have and need for what we don't have and don't need.
Ignore the stock market, ignore the economy, and buy a business you understand.
I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.
Investing is simple, but not easy.
Things you like to do should be a hobby of yours, but things the world does should be a business of yours.
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.
Buy into a company because you want to own it, not because you want the stock to go up.
Focus on your customers and lead your people as though their lives depend on your success.
Buy a business, don't rent stocks.
Focus on return on equity, not earnings per share.
Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.
I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.
If you don't make mistakes you can't make decisions.
The investor of today does not profit from yesterday's growth.
In looking for people to hire, look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.
Never ask a barber if you need a haircut.
If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game.
We all make mistakes. If you can't make mistakes, you can't make decisions. I've made a lot bigger mistakes myself.
