It’s hard to underestimate Warren Buffett’s influence on the economy or American business. ChanceAfter all. The magazine is a few months older than the magazine Oracle Omaha himself, on August 30, his 93rd birthday, and after a particularly impressive interview, he Previous tap Chance Editor Carol Loomis To correct the annual Berkshire Hathaway Shareholder letter.
Along with his right-hand man Charlie Munger, the investment legend led Berkshire Hathaway, one of the world’s most profitable companies, for nearly 60 years, becoming one of the world’s richest men in the process. Buffett has had a passion for entrepreneurship since he was a schoolboy (he once sold chewing gum and Coca-Cola door-to-door), an investment salesman, a stockbroker, a securities analyst, and even a student at Dale Carnegie’s public speaking course.
But along the way, he’s known for alternate folk and witty quotes. He’s not nicknamed the Sage of Omaha for a reason. Take his most famous line: “Only when the tide is out do you know who’s swimming naked. It covers financial art to the dawn of the modern era, when market bubbles popped and fools rushed in to explain old quotes. Consider the crypto winter of 2022, Buffett’s and (often) Munger’s long-term target. As the crypto market cap dropped from $3 trillion to $1 trillion in a matter of months, they began to dip a lot of skin.
Buffett took over Berkshire Hathaway, a textile manufacturing company, in 1970 and Seventh place on the Fortune 500 list (and 14 globally) with over $302 billion in revenue. As for his fortune, thanks to his decades of shrewd investments, it has grown to about $118 billion as of publication.
While many hopeful investors and businessmen take any word from Nebraska as gospel; Chance He has collected some of Oracle’s wise wisdom and quotes over the years.
Investing in:
“The first law of investing is never lose (money). And the second law of investing is don’t forget the first law. And that’s all the laws.”
“It’s what you pay for. It’s what you get.”
“Remember the stock market is mildly depressive.”
“Beware of investment moves that draw applause; great moves are often greeted with yawns.”
“Danger comes from not knowing what you’re doing. Never invest in a business you cannot understand.
“Today someone sits in the shade because someone planted a tree a long time ago.”
It’s okay for a “know-nothing” investor to realize this. The problem is when you’re a ‘know-nothing’ investor, but you think you do.”
“One simple rule governs my purchases: Be greedy when others are greedy and when others fear.”
About life and relationships;
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you will do things differently.
“If you find yourself in a leaky boat for a long time, the energy used to change the sails can be more effective than the energy used to plug the leaks.”
“The best investment you can ever make is in yourself.”
“Being given unconditional love is the greatest blessing you will ever receive.”
“Spend money on the company and I’ll understand. Spend one little name on the company and I’ll be cruel.”
“What we learn from history is that people don’t learn from history.”
“Of the billionaires I know, money only brings out the most basic qualities in them. If they were jerks before they got money, they’d simply be billion-dollar duds.”
“Unless you do a lot of things, you only need to do a few things right in your life.”
“Time is the friend of the great company, the enemy of the mediocre.”
“You want to meet the kind of person you want to be. You go in that direction. And the most important person in this regard is your spouse. Marry the right person. I am very sorry for that. will do [a bigger] difference in your life. It changes your desires, all kinds of things.
“If you get to my age in life and no one thinks well of you, I don’t care how big your bank account is, your life is a disaster.”
On playing cards – and going to jail:
“Bridge is such an exciting game and I don’t mind being in jail if I have three jail mates who are decent players and willing to keep the game going twenty-four hours a day.”
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