20 quotes from Oracle of Omaha on investing, life and success
When Warren Buffett speaks, the world listens! As Omaha readies to host the much-awaited Berkshire AGM, we bring you twenty pearls of wisdom from the legendary investor whose each word, each statement becomes the gospel truth for investors.
ETMarkets.com
2/21
Focus on quality
“Whether we're talking about socks or stocks, I like buying quality merchandise, when it is marked down.”
3/21
On greed and fear
Be fearful when others are greedy and greedy when others are fearful.
4/21
Investing rules
Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1
“It’s better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you’ll drift in that direction." (In pic: Warren Buffett with Bill Gates)
Bloomberg
7/21
Price matters
“It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.”
Agencies
8/21
On doing things differently
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Agencies
9/21
Believe in yourself
"I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
12/21
Honesty is a very expensive gift
“Honesty is a very expensive gift. Don’t expect it from cheap people.”
13/21
Good deeds pay off
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
14/21
Think before you act
“An investor should act as though he had a lifetime decision card with just twenty punches on it.”
15/21
Invest with a long-term view
“If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.”
16/21
On management
“…not doing what we love in the name of greed is very poor management of our lives.”
17/21
Invest in yourself
“The most important investment you can make is in yourself.”
18/21
No one knows about the future
“Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.”
19/21
Means and end should not be confused
“What is one really trying to do in the investment world? Not paying the least taxes, although that may be a factor to be considered in achieving the end. Means and end should not be confused; however, the end is to come away with the largest after-tax rate of compound. Quite obviously, if two courses of action promise equal rates of pre-tax compound and one involves incurring taxes and the other doesn't, the latter course is superior. However, we find this is rarely the case."
20/21
Identify opportunities
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
21/21
Candid talks
“In the business world, the rear-view mirror is always clearer than the windshield."
“Price is what you pay, value is what you get.” This famous Buffett quote strikes at the heart of the “value investor” approach and reveals the secret of how Buffett made his fortune.
A: Five rules drawn from Warren Buffett's wisdom for potentially building wealth include investing for the long term, staying informed, maintaining a competitive advantage, focusing on quality, and managing risk.
1 – Never lose money. Let's kick it off with some timeless advice from legendary investor Warren Buffett, who said “Rule No. 1 is never lose money. Rule No. 2 is never forget Rule No.
A 70/30 portfolio is an investment portfolio where 70% of investment capital is allocated to stocks and 30% to fixed-income securities, primarily bonds.
Warren Buffet's first rule of investing is to never lose money; his second is to never forget the first rule. This golden rule is key for long-term capital protection and growth. One oft-used strategy to limit losses in turbulent markets is an allocation to gold.
"We are not what we know but what we are willing to learn." "Good people are good because they've come to wisdom through failure." "Your word is a lamp for my feet, a light for my path." "The first problem for all of us, men and women, is not to learn, but to unlearn."
What Is a Real-Time Quote (RTQ)? A real-time quote (RTQs) is the display of the actual price of a security at that very moment in time. Quotes are the price of a stock or security displayed on various websites and ticker tapes.
His penchant for long-term investments is reflected in another of his aphorisms: “You should invest in a business that even a fool can run, because someday a fool will.” He doesn't believe in businesses that rely for their success on every employee being excellent.
Warren Buffett is a famous proponent of value investing. The Warren Buffett philosophy stresses the importance of purchasing “ably-managed businesses, in whole or in part, that possess favorable economic characteristics.”
“It's fine to celebrate success, but it is more important to heed the lessons of failure.” It's easy to get caught up in the excitement of success, but success on its own has very little to teach you. It's important to pay attention to your failures and learn from them going forward.
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