Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
Risk comes from not knowing what you're doing.
Our favorite holding period is forever.
Someone is sitting in the shade today because someone planted a tree a long time ago.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.
You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.
An investment in knowledge pays the best interest.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Time is the friend of the wonderful company, the enemy of the mediocre.
When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.
You can't produce a baby in one month by getting nine women pregnant.
No matter how great the talent or efforts, some things just take time.
Investors should remember that excitement and expenses are their enemies.