Investing Quotations | Page 3

An investor calculates what a stock is worth, based on the value of its businesses.

The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase.

The true investor... will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.

The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.

Buy not on optimism, but on arithmetic.

Successful investing is about managing risk, not avoiding it.

Investing isn't about beating others at their game. It's about controlling yourself at your own game.

Berkshire was built on the eternal verities: basic mathematics, basic horse sense, basic fear, and basic diagnosis of human nature to make predictions regarding human behavior. We stuck to the basics with a certain amount of discipline and it has worked out quite well.

The only intelligence investing is value investing...to acquire more than one is paying for.

Investing is where you find a few great companies and then sit on your ass.