In honor of Warren Buffett's 81st birthday, here are some of his best quotes:
"In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497."
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
"Over the years, Charlie and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun."
"Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful."
"I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will. "
"Chains of habit are too light to be felt until they are too heavy to be broken."
"A girl in a convertible is worth five in the phonebook. "
"Beware of geeks bearing formulas."
"Derivatives are financial weapons of mass destruction."
"Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway."