Warren Buffett says

“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

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Quotes on Investing Warren Buffett on Investing

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

—Warren Buffett

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

—Charlie Munger

“We trade real estate for technology (which gets cheaper and more capable every year).”

—Jeff Bezos

“You don’t have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital.”

—Warren Buffett

“Writing a check separates a commitment from a conversation.”

—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

“Life is like a snowball. The important thing is finding wet snow and a really long hill.”

—Warren Buffett

“Cash combined with courage in a time of crisis is priceless.”

—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

“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

“Intensity is the price of excellence.”

—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

“Don't work for money, make money work for you.”

—Warren Buffett

“Especially favourable future prospects were regarded by shrewd investors as something to look for but not to pay for”

—Warren Buffett

“The year 2015 marks the fiftieth anniversary of Berkshire Hathaway under Warren Buffett's leadership, a milestone worth commemorating. The tenure sets a record”

—Warren Buffett