In the business world, the rearview mirror is always clearer than the windshield.
I’ve seen more people fail because of liquor and leverage – leverage being borrowed money. You really don’t need leverage in this world much. If you’re smart, you’re going to make a lot of money without borrowing.
The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
The rich invest in time, the poor invest in money.
It is not necessary to do extraordinary things to get extraordinary results.
Tell me who your heroes are and I’ll tell you who you’ll turn out to be.
Chains of habit are too light to be felt until they are too heavy to be broken.
It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
The difference between successful people and really successful people is that really successful people say no to almost everything.
Be fearful when others are greedy and greedy when others are fearful.
You only find out who is swimming naked when the tide goes out.
Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.
Can you really explain to a fish what it’s like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value.
Only when you combine sound intellect with emotional discipline do you get rational behavior.
Our favorite holding period is forever.
Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No.1.
Without passion, you don’t have energy. Without energy, you have nothing.
Honesty is a very expensive gift, Don’t expect it from cheap people.
Nobody buys a farm based on whether they think it’s going to rain next year. They buy it because they think it’s a good investment over 10 or 20 years.
I measure success by how many people love me.
Risk comes from not knowing what you’re doing.
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