• Rule No.1: Never lose money.
  • Rule No.2: Never forget rule No.1
  • Be fearful when others are greedy. Be greedy when others are fearful
  • It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price
  • Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down
  • Price is what you pay. Value is what you get
  • It takes a lifetime to build a reputation and five minutes to ruin it
  • Cash combined with courage in a crisis is priceless
  • Never invest in a business you cannot understand
  • Only buy something that you’d be perfectly happy to hold if the market shut down for ten years
  • Someone is sitting in the shade today because someone planted a tree a long time ago
  • Risk comes from not knowing what you’re doing
  • If you don’t feel comfortable owning something for 10 years, then don’t own it for 10 minutes
  • If a business does well, the stock eventually follows
  • The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable

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