Quotes from Warren Buffett

Failing conventionally is the route to go; as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press

Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn't produce anything.

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

Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.

If each of us hires people who are smaller than we are, we shall become a company of dwarfs. But, if each of us hires people who are bigger than we are, we shall become a company of giants.

In some corner of the world they are probably still holding regular meetings of the Flat Earth Society. We derive no comfort because important people, vocal people, or great numbers of people agree with us. Nor do we derive comfort if they don't.

Having firstrate people on the team is more important than designing hierarchies and clarifying who reports to whom

The more you learn, the more you earn.

But then it dawned on me that the opinion of someone who is always wrong has its own special utility to decision-makers.

In fact, when Warren Buffett was once asked about the key to success, he pointed to a stack of nearby books and said, "Read 500 pages like this every day. That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.

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

Thomas J. Watson Sr. of IBM followed the same rule: "I'm no genius," he said. "I'm smart in spots—but I stay around those spots.")

Buy a stock the way you would buy a house. Understand and like it such that you'd be content to own it in the absence of any market.

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful

our experience with newly-minted MBAs has not been that great. Their academic records always look terrific and the candidates always know just what to say; but too often they are short on personal commitment to the company and general business savvy. It's difficult to teach a new dog old tricks.

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

as happens in Wall Street all too often, what the wise do in the beginning, fools do in the end.

What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

Many shall be restored that now are fallen and many shall fall that are now in honor.

The rich invest in time, the poor invest in money.

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.

Never give up searching for the job that you are passionate about

Derivatives are financial weapons of mass destruction.

Reading could be the BEST addiction one could have. The only proven side effect is imagination & an edge in knowledge.