"You’d get very rich if you thought..." - Quote by Warren Buffett

“I really like my life. I've arranged my life so that I can do what I want.”

“I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”

“If you're in a card game and you can't figure out who the patsy is, you're it.”

“People who don't take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.”

“Decision making is the specific executive task.”

“It is obvious that the performance of a stock last year or last month is no reason, per se, to either own it or to not own it now. It is obvious that an inability to "get even" in a security that has declined is of no importance. It is obvious that the inner warm glow that results from having held a winner last year is of no importance in making a decision as to whether it belongs in an optimum portfolio this year.”

“Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.”

“Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.”

“I am out of step with present conditions. When the game is no longer played your way, it is only human to say the new approach is all wrong, bound to lead to trouble, and so on. On one point, however, I am clear. I will not abandon a previous approach whose logic I understand ( although I find it difficult to apply ) even though it may mean foregoing large, and apparently easy, profits to embrace an approach which I don't fully understand, have not practiced successfully, and which possibly could lead to substantial permanent loss of capital.”