Warren Buffett says

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

—Warren Buffett

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Quotes on Investing Warren Buffett on Investing

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“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

“Wide diversification is only required when investors do not understand what they are doing.”

—Warren Buffett

“The best investment you can make is in yourself.”

—Warren Buffett

“What the wise man does in the beginning, the fool does in the end.”

—Warren Buffett

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

—Warren Buffett

“You do not need to be terrifically smart to do well as an investor at all.”

—Warren Buffett

“It’s not that I want money. It’s the fun of making money and watching it grow.”

—Warren Buffett

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

—Warren Buffett

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

—Charlie Munger

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

—Warren Buffett

“Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.”

—Warren Buffett

“Only when the tide goes out do you discover who's been swimming naked.”

—Warren Buffett

“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

“Managers who want to expand their domain at the expense of owners might better consider a career in government.”

—Warren Buffett

“If you’re long-term oriented, customer interests and shareholder interests are aligned.”