I’ve been into motivational business quotes lately and I was reading the Tao of Warren Buffett (which I highly recommend!) and reminded of the great business quotes Mr. Buffett has shared.
Here are some of his more famous business quotes:
On the Law of Large Numbers: “Economic progressions, as they grow larger, forge their own mathematical anchors.”
“It’s only when the tide goes out that you learn who’s been swimming naked.”
“You want to learn from experience, but you want to learn from other people’s experience when you can.”
“Risk comes from not knowing what you’re doing.”
“If past history was all there was to the game, the richest people would be librarians.”
“The smartest side to take in a bidding war is the losing side.”
“Rule number one: never lose money. Rule number two: never forget rule #1.”
“Never ask a barber if you need a haircut.”
“Charlie and I like stable businesses like chewing gum and try to leave life’s more unpredictable things to someone else.”
“There is nothing like writing to force you to think and get your thoughts straight.”
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
“Turnarounds seldom turn.”
“I read everything: annual reports, 10K’s, 10Q’s, biographies, histories, five newspapers a day. On airplanes, I read the backs of the seats. Reading is key. Reading has made me rich over time.”
On his favorite book:
” The Intelligent Investor is still the best book on investing. It has the only three ideas you really need:
1) The Mr. Market analogy
2) A stock is a piece of a business
3) Margin of safety.”
“You have to think for yourself. It always amazes me how high-IQ people mindlessly imitate. I never get good ideas talking to other people.”
“You don’t have to make money back the same way you lost it.”
“It’s not necessary to do extraordinary things to get extraordinary results.”
There are plenty other Warren Buffet quotes found in his shareholder letters.
I plan to write more about famous business quotes so stay tuned!
