Warren Buffett says

“An idiot with a plan can beat a genius without a plan.”

—Warren Buffett

More from Warren Buffett

“There is no tougher job in corporate America than running an airline: Despite the huge amounts of equity capital that have been injected into it, the industry, in aggregate, has posted a net loss since its birth after Kitty Hawk. Airline managers need brains, guts, and experience—and”

—Warren Buffett

“If you don't find a way to make money while you sleep, you will work until you die.”

—Warren Buffett

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

—Warren Buffett

“But then it dawned on me that the opinion of someone who is always wrong has its own special utility to decision-makers.”

—Warren Buffett

“Stocks of companies selling commodity-like products should come with a warning label: “Competition may prove hazardous to human wealth.“”

—Warren Buffett

“I've never believed in risking what my family and friends have and need in order to pursue what they don't have and don't need.”

—Warren Buffett

“People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.”

—Warren Buffett

“Some time ago Ken Galbraith, in his witty and insightful The Great Crash, coined a new economic term: “the bezzle,” defined as the current amount of undiscovered embezzlement. This financial creature has a magical quality: The embezzlers are richer by the amount of the bezzle, while the embezzlees do not yet feel poorer.”

—Warren Buffett

“If options aren't a form of compensation, what are they? If compensation isn't an expense, what is it? And, if expenses shouldn't go into the calculation of earnings, where in the world should they go?”

—Warren Buffett

“You should never test the depth of the water with both feet.”

—Warren Buffett