Warren Buffet is one of the world’s most financially successful, richest and philanthropicial men. Here are a few of his outstanding tips.
“Article by: Zack FriedmanSenior Contributor Personal FinanceAuthor, The Lemonade Life. I write about leadership and greatness
Here Are 10 Genius Quotes From Warren Buffett
Simply put, Warren Buffett has a way with words. When it comes to investing, money or even life, the Berkshire Hathaway founder always finds the right words to lend wisdom and inspiration. Here are 10 of his most memorable quotes:
1. “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”Tip: Don’t always run with the crowd. There’s value in being counterintuitive.
2. “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”Tip: Your reputation matters. Think before you act.
3. “Price is what you pay. Value is what you get.”Tip: Price and value are different. As an investor, your job is to find the disconnect between the two.
4. “Someone’s sitting in the shade today because someone planted a tree a long time ago.”Tip: It takes time and patience to enjoy the fruits of labor. When you plan for the future, good things can happen.
5. “Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”Tip: Protect your downside.
6. “Risk comes from not knowing what you’re doing.”Tip: Get informed. Educate yourself. You can mitigate at least some risk by simply learning more about what you want to do.
7. “It’s only when the tide goes out that you discover who’s been swimming naked.”Tip: When times are good, everyone seems to be a winner. It’s what happens when times change that proves who’s really ahead.
8. “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”Tip: Focus on the substance, and the value will flow from there.
9. “Our favorite holding period is forever.”Tip: While there’s value in moving quickly, the stock market can’t be timed. When your horizon is forever, you can ride out the waves.
10. “It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”Tip: The people around you matter. Surround yourself with people better and smarter than you. It’s amazing how much you can grow.
Photographer: Scott Eells/Bloomberg”
Which of these Warren Buffett quote’s is your favorite? What are some of your personal financial quotes?