Warren Buffett says

“It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.”

—Warren Buffett

More from Warren Buffett

“You will continue to suffer if you have an emotional reaction to everything that is said to you. True power is sitting back and observing things with magic. True power is restraint. If words control you that means everyone else can control you. Breathe and allow things to pass.”

—Warren Buffett

“An investor should act as though he had a lifetime decision card with just twenty punches on it.”

—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

“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

“I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.”

—Warren Buffett

“A small chance of distress or disgrace cannot, in our view, be offset by a large chance of extra returns.”

—Warren Buffett

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

—Warren Buffett

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”

—Warren Buffett

“From this irritating reality comes The First Law of Corporate Survival for ambitious CEOs who pile on leverage and run large and unfathomable derivatives books: Modest incompetence simply won’t do; it’s mindboggling screw-ups that are required.”

—Warren Buffett

“Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.”

—Warren Buffett