Avoiding Mediocre Opportunities
It takes character to sit with all that cash and to do nothing. I didn’t get top where I am...
Keeping Investing Simple
We’re partial to putting out large amounts of money where we won’t have to make another decision.
Doing Acquisitions
Two thirds of acquisitions don’t work. Ours work because we don’t try to do acquisitions — we wait for no-brainers.
The Big Ideas in Science
It’s very useful to have a good grasp of all the big ideas in hard and soft science. A, it...
I Would Have Been in Jail
I know from my own education that if I hadn’t encountered two or three individuals that spent extra time with...
Banking Was a Great Investment
Banking has turned out to be better than we thought. We made a few billion [dollars] from Amex while we...
Have an Effect on Society
I do feel there is another way we have an effect on society besides our computers.
A Destination We All Share
Death is the destination we all share, no one has ever escaped it. And that is as it should be...
Making Better Predictions
The game of investing is one of making better predictions about the future than other people.
When Something Is Too Hard
If something is too hard, we move on to something else. What could be simpler than that?”
An Insult to Sewage
To say accounting for derivatives in America is a sewer is an insult to sewage.
Growing Float at Low Cost
Growing float at a sizeable rate at low cost is almost impossible — but we intend to do it anyway.
The Power of Compound Return
Understanding both the power of compound return and the difficulty of getting it is the heart and soul of understanding...
Be Consistently Not Stupid
It is remarkable how much long-term advantage people like [Warren Buffett and myself] have gotten by trying to be consistently...
Making Something with Care and Love
And you never meet the people, you never shake their hands, you never hear their story or tell yours, but...
Good Businesses vs. Bad Businesses
The difference between a good business and a bad business is that good businesses throw up one easy decision after...
Invest in a Business a Fool Can Run
Invest in a business any fool can run, because someday a fool will. If it won’t stand a little mismanagement,...
Don’t Wait Until It’s Too Late
The bitterest tears shed over graves are for words left unsaid and deeds left undone.
Focus Investing
Our investment style has been given a name — focus investing — which implies 10 holdings, not 100 or 400.
The Earth’s Carrying Capacity
People always underestimate the ability of earth to increase its carrying capacity.
Tuning Out Folly
Part of [having uncommon sense] is being able to tune out folly, as opposed to recognizing wisdom.
Ben Franklin and Samuel Johnson
On Ben Franklin and Samuel Johnson: “They were both utterly brilliant men. And powerful communicators. Both have helped me all...
Knowing When to Pause
My friend said to me, You know what I like? Mashed potatoes. I was like, Dude, you have to give...
A Great Business at a Fair Price
A great business at a fair price is superior to a fair business at a great price.
You Are Already Naked
Remembering that you are going to die is the best way I know to avoid the trap of thinking that...
Warren Buffett’s Discipline
Warren spends 70 hours a week thinking about investing.
How Would Apple Taste?
Nobody has tried to swallow us since I’ve been here. I think they are afraid how we would taste.
Wall Street’s Wealth and Political Power
Wall Street has too much wealth and political power.
Getting What You Deserve
Spend each day trying to be a little wiser than you were when you woke up. Day by day, and...
Earning Money Without Risk
When any guy offers you a chance to earn lots of money without risk, don’t listen to the rest of...
A Rule of Law for Kleptocracies
As for what we like least, we don’t want kleptocracies. We need a rule of law. If people are stealing...
The Sin of Envy
Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s...
Financial Institutions Doing Well
Financial institutions make us nervous when they’re trying to do well.
A Better Place for Our Kids
I remain extremely concerned when I see what’s happening in our country, which is in many ways the luckiest place...
When Someone Hands You a Flyer
When someone hands you a flyer, it’s like they’re saying here you throw this away.
Common Sense in Business
The company that needs a new machine tool, and hasn’t bought it, is already paying for it.
Be Different Than Your Competition
“You can’t look at the competition and say you’re going to do it better. You have to look at the...
Short-term Thinking in Business
Almost all good businesses engage in pain today for gain tomorrow activities.
Getting Out of Debt
Once you get into debt, it’s hell to get out. Don’t let credit card debt carry over. You can’t get...
Apple’s Roots
The roots of Apple were to build computers for people, not for corporations. The world doesn’t need another Dell or...
Why Some People Cling to Hatred
I imagine one of the reasons people cling to their hates so stubbornly is because they sense, once hate is...
