It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

Someone's sitting in the shade today because someone planted a tree a long time ago.

A very rich person should leave his kids enough to do anything but not enough to do nothing.

Risk comes from not knowing what you're doing.

Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: `How many legs does a dog have if you call his tail a leg?' The answer: `Four, because calling a tail a leg does not make it a leg'.

Price is what you pay. Value is what you get.

Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful. Lecturing to a group of students at Columbia U. He was 21 years old.

You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right—and that’s the only thing that makes you right. And if your facts and reasoning are right, you don’t have to worry about anybody else.

One’s objective should be to get it right, get it quick, get it out, and get it over... your problem won’t improve with age.

There seems to be some perverse human characteristic that likes to make easy things difficult.

A public-opinion poll is no substitute for thought.

If you don't know jewelry, know the jeweller.

The most important quality for an investor is temperament, not intellect... You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.

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

The Stock Market is designed to transfer money from the Active to the Patient.

It's only when the tide goes out that you learn who's been swimming naked.

If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.