Warren Buffett

Only when you combine sound intellect with emotional discipline do you get rational behavior.

Our favorite holding period is forever.

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.

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

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.

Never invest in a business you can’t understand.

Our favorite holding period is forever.

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

Diversification is a protection against ignorance. It makes very little sense for those who know what they’re doing.

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.

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.

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

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.

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.

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