Warren Buffett says
“Wall Street is the only place that people drive to in a Rolls Royce to take advice from people who ride the subway.”
“It’s not possible for investors to consistently outperform the market. Therefore you’re best served investing in a diversified portfolio of low-cost index funds [or exchange-traded funds].”
“Any business plan won’t survive its first encounter with reality. The reality will always be different. It will never be the plan.”
“We trade real estate for technology (which gets cheaper and more capable every year).”
“I think that, every time you see the word EBITDA, you should substitute the words "bullshit earnings".”
“We both insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think. So Warren and I do more reading and thinking and less doing than most people in business.”