Most would agree that Warren Buffett is the greatest investor who ever lived.
And Buffett is frequently sharing the wisdom that earned him his riches.
Thankfully, he has a remarkable ability to communicate complicated topics in plain language and often in a folksy tone.
His annual letters are always-must reads.
But many of his best lines come from TV appearances, newspaper op-eds, magazine interviews, and sometimes even word of mouth.
We compiled a few of the best quotes from the Oracle of Omaha. If we've missed any of your favorites, let us know in the comments.
Master the basics.
"To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices."
Source: Chairman's Letter, 1996
The best time to buy a company is when it's in trouble.
"The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table."
Source: Businessweek, 1999
Don't buy a stock just because everyone hates it.
"None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world: "Most men would rather die than think. Many do."
Source: Chairman's Letter, 1990
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