I know people who have a lot of money, and they get testimonial dinners and they get hospital wings named after them. But the truth is that nobody in the world loves them. If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.
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Warren Buffett
Warren Edward Buffett (/ˈbʌfᵻt/; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is considered by some to be one of the most successful investors in the world, and as of March 2017 is the second wealthiest person in the United States with a total net worth of $78.7 billion. Born in Omaha, Buffett developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from University of Nebraska–Lincoln. After graduating at 19, Buffett enrolled at Columbia Business School of Columbia University, learning and eventually creating his investment philosophy around a concept pioneered by Benjamin Graham–value investing. He attended New York Institute of Finance to specialize his economics background and soon after began various business partnerships, including one with Graham. After meeting Charlie Munger, Buffett created the Buffett Partnership. His firm would eventually acquire a textile manufacturing firm called Berkshire Hathaway and assume its name to create a diversified holding company. Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970, and his business exploits have had him referred to as the "Wizard", "Oracle" or "Sage" of Omaha by global media outlets. He is noted for his adherence to value investing and for his personal frugality despite his immense wealth. Buffett is a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundatio
Basically, when you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you.
In 1776, America set off to unleash human potential by combining market economics, the rule of law and equality of opportunity. This foundation was an act of genius that in only 241 years converted our original villages and prairies into $96 trillion of wealth.
In the years of growth that certainly lie ahead, I have no doubt that America can both deliver riches to many and a decent life to all. We must not settle for less.
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.
I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.
In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
Risk comes from not knowing what you're doing.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.