The most important investment you can make is in yourself.
Honesty is a very expensive gift, Don’t expect it from cheap people.
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Tell me who your heroes are and I’ll tell you who you’ll turn out to be.
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.
If you are in a poker game and after 20 minutes you don’t know who the patsy is, then you’re the patsy.
Risk comes from not knowing what you’re doing.
I always knew I was going to be rich. I don’t think I ever doubted it for a minute.
Without passion, you don’t have energy. Without energy, you have nothing.
Chains of habit are too light to be felt until they are too heavy to be broken.
Diversification is a protection against ignorance. It makes very little sense for those who know what they’re doing.
The rich invest in time, the poor invest in money.
Our favorite holding period is forever.
The difference between successful people and really successful people is that really successful people say no to almost everything.
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.
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.
It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.
It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Be fearful when others are greedy and greedy when others are fearful.
If past history was all that is needed to play the game of money, the richest people would be librarians.
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