Warren Buffett, CEO of Berkshire Hathaway, is acknowledged to be one of the best investors on the planet. He's also pretty good at coining a phrase. Following the seven Buffett pearls below can help make you a better investor.
- Rule number one: Never lose money. Rule number two: Don't forget rule number one.
- If [investors] try to time their purchases, they will do very well for their broker, and not very well for themselves.
- If ... history was all there was to the game, the richest people would be librarians.
- I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
- When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
- We've long felt that the only value of stock forecasters is to make fortune-tellers looks good .. [My partner] Charlie [Munger] and I believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
- A pin lies in wait for every bubble. And when the two meet, a new wave of investors learns some very old lessons.