Warren Buffett says

“At Berkshire, full reporting means giving you the information that we would wish you to give to us if our positions were reversed.”

—Warren Buffett

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Quotes on Investing Warren Buffett on Investing

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“Wall Street is the only place that people drive to in a Rolls Royce to take advice from people who ride the subway.”

—Warren Buffett

“Loss of focus is what most worries Charlie and me when we contemplate investing in businesses that in general look outstanding. All too often, we’ve seen value stagnate in the presence of hubris or of boredom that caused the attention of managers to wander.”

—Warren Buffett

“Our favorite holding period is forever. We are just the opposite of those who hurry to sell and book profits when companies perform well but who tenaciously hang on to businesses that disappoint. Peter Lynch aptly likens such behavior to cutting the flowers and watering the weeds.”

—Warren Buffett

“Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.”

—Warren Buffett

“There's never just one cockroach in the kitchen.”

—Warren Buffett

“We need a moderately-priced stock market… The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do. For the investor, a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favorable business developments.”

—Warren Buffett

“Can you imagine any public company embracing a business model that would lead to the decline in revenue that we experienced from 1986 through 1999?”

—Warren Buffett

“Warren talks about these discounted cash flows. I’ve never seen him do one.”

—Charlie Munger

“My proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent.”

“In the business world, the rearview mirror is always clearer than the windshield.”

—Warren Buffett

“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful”

—Warren Buffett

“Despite our policy of candor, we will discuss our activities in marketable securities only to the extent legally required. Good investment ideas are rare, valuable and subject to competitive appropriation just as good product or business acquisition ideas are.”

—Warren Buffett

“For these investors, it would have been far better if Orville had failed to get off the ground at Kitty Hawk: The more the industry has grown, the worse the disaster for owners.”

—Warren Buffett

“Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

—Warren Buffett

“If you buy things you do not need, soon you will have to sell things you need.”

—Warren Buffett