Howard Warren Buffett Quotes

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Capitalism is not a perfect system. It may be better than all the other systems, but it's not a perfect system.

Howard Warren Buffett

Perfect, May, Capitalism

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "The Charlie Rose Show", www.cnbc.com. October 1, 2008.

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Soil is a living ecosystem and is a farmer's most precious asset. A farmer's productive capacity is directly related to the health of his or her soil.

Howard Warren Buffett

Ecosystems, Soil, Assets

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If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year. [...] And when somebody makes it very easy for you to do it by saying you don't really have to put up my money, you can lie about your income a little, or we'll give you 100 percent mortgage, you're going to do it, because everybody that's done it has been proven right. You have what they call social tools, and, you know, you're going to feel like an idiot if you didn't do it, because the house cost more.

Howard Warren Buffett

Lying, Thinking, Years

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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I mean people -- people don't get -- they don't get smarter about things that get as basic as greed and you can't stand to see your neighbor getting rich. You know you're smarter than he is, and he's doing these things, you know, and he's getting rich, and your spouse is getting unhappy with you because you aren't doing -- pretty soon you start doing it. And so you get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

Howard Warren Buffett

Mean, People, Greed

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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Somebody's buying these treasury bills at 1/20th of one percent. I mean we consuming about $2 billion a day of goods and services beyond what we're producing.And it reflects American's consumption ideas rather than its savings ideas.

Howard Warren Buffett

Mean, Ideas, Buying

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We had the great depression, we had two world wars, we had the flu epidemic. We had oil shock. We had all these terrible things happen. But something about the American system unleashed more and of a potential to human beings over that hundred years so that we had a seven for one improvement in - there's never been any - I mean, you have centuries where if you've got a 1 percent improvement, then it's something. So we've got a great system. And we've got more productive capacity now than we ever have.

Howard Warren Buffett

War, Mean, Epidemics

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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke. So the savings and loans went broke, the government stepped in, paid off depositors, and now they're left with this mass of assets to sell. We're not talking about selling here, we're talking about buying intelligently. They were selling what they got handed to them by a bunch of savings and loan operators that had in many cases had done some very dumb thing. But their job was to liquidate it. And they liquidated.

Howard Warren Buffett

Jobs, Government, Talking

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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The commercial paper market, when that dries up, you know, that's just like sucking the blood out of the economic body of the United States.

Howard Warren Buffett

Blood, United States, Paper

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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The U.S. Treasury has got borrowing costs like nobody else has. They can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time.

Howard Warren Buffett

Years, Cost, Assets

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "The Charlie Rose Show", www.cnbc.com. October 1, 2008.

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People love leverage when it's working. I mean, it's so easy to borrow money from a guy at X and put it out at X.

Howard Warren Buffett

Mean, People, Guy

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life. Now, that's crazy. And if you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or whomever around their office. On average. And so I think that actually people in my situation should be paying more tax. I think the rest of the country should be paying less.

Howard Warren Buffett

Country, Crazy, Thinking

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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The American worker is more productive than he's ever been. We've got more people to do it. We've got all the ingredients for a sensational future. It's just that right now the athlete's on the floor. This is a super athlete.

Howard Warren Buffett

Athlete, People, Ingredients

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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Somebody's buying these treasury bills at 1/20th of one percent. I mean we consuming about $2 billion a day of goods and services beyond what we're producing.As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.

Howard Warren Buffett

Running, Country, Mean

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Beware of geeks, you know, bearing formulas.

Howard Warren Buffett

Geek, Formulas, Knows

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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It will be good for us in the long run, and I mean there are six and a half billion people in this world. And it's great for 300 million to keep enjoying more and more property, but I think it's terrific if the remainder do. And I think if they can learn something from us in terms of our system, and I think they have, they are learning more about how to unleash the potential of their citizenry to turn out more goods and services that their citizens want or that we want, I think that's terrific.

Howard Warren Buffett

Running, Mean, Thinking

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I want our pie to grow all the people, but if some other guy's pie is growing a little faster, that's terrific.

Howard Warren Buffett

Pie, People, Guy

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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As long as you have markets, you'll have excesses. People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started. I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.

Howard Warren Buffett

Crazy, Mean, Animal

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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You get in a lot of trouble when you start putting fictitious numbers on value. I think to just say, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today. And I think once you start putting phony figures into financial statements, you get in a lot of trouble.

Howard Warren Buffett

Thinking, Numbers, Dollars

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The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.

Howard Warren Buffett

Country, Mean, Average

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I mean the whole economy just comes to a grinding halt. Competence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. Indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing you think about. And the oxygen has been sucked out of the credit markets.

Howard Warren Buffett

Mean, Thinking, Oxygen

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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When people talk about cash being king, it's not king if it just sits there and never does anything. There are times when cash buys more than other times, and this is one of the other times when it buys a fair amount more, so we use it.

Howard Warren Buffett

Kings, People, Doe

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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You want to be greedy when others are fearful.

Howard Warren Buffett

Investing Money, Want, Buffets

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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We have a terrific economy, it's like a great athlete that's had a cardiac arrest.

Howard Warren Buffett

Athlete, Economy, Cardiac

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You may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing. I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing.

Howard Warren Buffett

Military, Mean, Mad

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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I mean, the job is Pearl Harbor. And you better not spends weeks and weeks and weeks trying to assign blame or deciding on a complete plan for fighting the whole war, you know, and letting a committee decide where the battleships should go and all of that. You better spring into action with the best people you have.

Howard Warren Buffett

Jobs, Spring, War

"Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview". Interview with Charlie Rose, www.cnbc.com. October 1, 2008.

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Latest quotes from interviews

"I love to tell how I'm suffering because one percent we're paying 25 percent of the total. We're not paying 25 percent of the total taxes on individuals. We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends. They take from the woman who comes in and takes the wastebaskets out."

- Howard Warren Buffett,

www.fitchfp.com, added Aug 1, 2015

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