Warren Buffett says

“In the long run managements stressing accounting appearance over economic substance usually achieve little of either.”

—Warren Buffett

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Quotes on Investing Warren Buffett on Investing

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“what’s good for customers is good for shareholders.”

“In the 54 years (Charlie Munger and I) have worked together, we have never forgone an attractive purchase because of the macro or political environment, or the views of other people. In fact, these subjects never come up when we make decisions.”

—Warren Buffett

“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.”

“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

“Don’t ask the barber whether you need a haircut.”

—Warren Buffett

“It takes character to sit with all that cash and to do nothing. I didn't get top where I am by going after mediocre opportunities.”

—Charlie Munger

“If you buy things you don't need, soon you will have to sell things you need.”

—Warren Buffett

“While investors and managers must place their feet in the future, their memories and nervous systems often remain plugged into the past.”

—Warren Buffett

“In the world of business, the people who are most successful are those who are doing what they love.”

—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

“Regardless of the impact upon immediately reportable earnings, we would rather buy 10% of Wonderful Business T at X per share than 100% of T at 2x per share. Most corporate managers prefer just the reverse.”

—Warren Buffett

“Never depend on single income. Make investment to create a second source.”

—Warren Buffett

“Intensity is the price of excellence.”

—Warren Buffett

“My favourite holding period is forever”

—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