Quotes from Warren Edward Buffett

[The] stock market serves as a relocation center at which money is moved from the active to the patient.

A girl in a convertible is worth five in the phonebook.

You only find out who is swimming naked when the tide goes out.

We never want to count on the kindness of strangers in order to meet tomorrows obligations. When forced to choose, I will not trade even a nights sleep for the chance of extra profits.

Time is the enemy of the poor business and the friend of the great business. If you have a business that's earning 20%-25% on equity, time is your friend. But time is your enemy if your money is in a low return business.

We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.

If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game.

Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.

Price is what you pay. Value is what you get (Ben Graham).

If you have a great manager, you want to pay him very well.

Putting people into homes, though a desirable goal, shouldnt be our countrys primary objective. Keeping them in their homes should be the ambition.