Warren Buffett

You only find out who is swimming naked when the tide goes out.

It is not necessary to do extraordinary things to get extraordinary results.

I measure success by how many people love me.

If past history was all that is needed to play the game of money, the richest people would be librarians.

It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.

Without passion, you don’t have energy. Without energy, you have nothing.

There are two times in a man’s life when he should not speculate: when he can’t afford it, and when he can.

Never invest in a business you can’t understand.

October: This is one of the particularly dangerous months to invest in stocks. Other dangerous months are July, January, September, April, November, May, March, June, December, August and February.

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

The rich invest in time, the poor invest in money.

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’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

Our favorite holding period is forever.

Successful investing takes time, discipline and patience. No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.

It makes more sense to buy a wonderful business at a fair price than it does to buy a fair business at a wonderful price.