Wisdom from the Oracle of Omaha.
Warren Buffett: Part investor, part enigma. This is a man who’s simultaneously at the helm of Berkshire Hathaway (ticker: BRK.A, BRK.B) and can play the ukulele. This is a man who loves buy-and-hold stocks and crows that he eats like a 6-year-old, downing five servings of Coca-Cola (KO) per day. This is a man who’s arguably the best investor ever and manages to get name-dropped in presidential debates. In short, he’s a man that commands attention — so we rounded up some of his best quotes.
On sleeping at night.
“We never want to count on the kindness of strangers in order to meet tomorrow’s obligations.” Buffett said this in his 2008 shareholder letter, vowing to shareholders, ratings agencies and himself to helm Berkshire Hathaway with an abundance of cash. He added, “When forced to choose, I will not trade even a night’s sleep for the chance of extra profits.”
On class.
“It’s class warfare. My class is winning, but they shouldn’t be.” Buffett said during an interview with Lou Dobbs and CNN in 2005, which focused on challenges the U.S. and the American people were dealing with.
On doing the right thing.
Guy Spier, an investor based in Zurich, paid $650,100 to dine with Buffett at a Manhattan steakhouse in 2008. Spier took the opportunity to discuss his own struggle to do the right thing in lowering the fees he required of his fund’s shareholders. Replied Buffett: “People will always try to stop you doing the right thing if it is unconventional.”
On diet.
“If I eat 2,700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. I do it every day.” Buffett told Fortune’s Patricia Sellers in 2015, after she thought he was just describing his stock portfolio as one-quarter Coca-Cola.
On buying businesses.
“Time is the friend of the wonderful business, the enemy of the mediocre.” Buffett wrote in his 1989 shareholder letter, discussing an approach to buying businesses.
On the worst kind of business.
“The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money,” Buffett wrote in his 2007 shareholder letter. One industry example he gives? Airlines.
On America.
“It’s never paid to bet against America. We come through things, but it’s not always a smooth ride.” Buffett said in a 2009 interview with NBC’s Tom Brokaw that tackled the economy, honing in on President Barack Obama’s leadership style, executive pay and more.
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7 Notable Quotes From Warren Buffett originally appeared on usnews.com
