Warren Buffett

You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.

In the search [of a deal], we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.

Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.

An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.

Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.

I never try to predict the market.

If _x000D_ you're an investor, you're looking on what the asset is going to do, if _x000D_ you're a speculator, you're commonly focusing on what the price of the _x000D_ object is going to do, and that's not our game.

Bad terminology is the enemy of good thinking.

Games are won by players who focus on the playing field -- not by those whose eyes are glued to the scoreboard.

The best thing I did was choose the right heroes.

Beware [of] the investment activity that produces applause; the great moves are usually greeted by yawns.

A newspaper that reduces its coverage of the news important to its community is certain to reduce its readership as well

The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.

The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.

I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing.

Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.

We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.

What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.

In a commodity business, it's very hard to be smarter than your dumbest competitor.

A hyperactive stock market is the pickpocket of enterprise.

Enjoy your work and work for whom you admire.