Warren Buffett Quotes – Part 9

If past history was all that is needed to play the game of money, the richest people would be librarians.

If you are in a poker game and after 20 minutes you don’t know who the patsy is, then you’re the patsy.

If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.

If you buy things you do not need, soon you will have to sell things you need.

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

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.

If you’re in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%.

If your employees, including your CEO, wish to give to their alma maters or other institutions to which they feel a personal attachment, we believe they should use their own money, not yours.

Imagine that you had a car and that was the only car you’d have for your entire lifetime. Of course, you’d care for it well, changing the oil more frequently than necessary, driving carefully, etc. Now, consider that you only have one mind and one body. Prepare them for life, care for them. You can enhance your mind over time. A person’s main asset is themselves, so preserve and enhance yourself.

In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.