Warren Edward Buffett is considered one the most successful investors of the 20th Century and has shared his philosophy on money and life on various occasions through letters, speeches, and books.
1. “Only two things matter to get any desired result. Willingness to do and act. The majority fail in executing the second.’
2. “The way to begin making money is to begin. Hundreds and thousands of people would like to make a lot of money but are not making it because they are waiting for something to happen.”
3. He often quotes Albert Einstein: “Compound interest is the 8th wonder of the world. He, who understands it, earns it… He who doesn’t pay it.”
4. “Take a break and find your circle of competence! And then act! Everything falls in place, and you will find yourself on the right path.”
5. “The big question about how people behave is whether they have an inner or outer scorecard. It helps if you can be satisfied with an inner scorecard.”
6. “It is the mark of an educated mind to be able to entertain a thought without accepting it” – Aristotle
7. Warren Says about doing a Job one doesn’t like – “Doing a job that you don’t like is like saving up sex for your old age.”
8. “Cash is to a business as oxygen is to a body: Never thought about it when it is present, the only thing in mind when it is absent.”
9. “The difference between successful and successful people is that successful people say “NO” to almost everything.”
10. “Attempting to avoid all failure will undoubtedly fail itself. Learn from these failures, and your victories will soon pile up.”
11. “Tell me who your heroes are, and I’ll tell you who you’ll be.”
12. “You want to associate with people who are the kind of person you’d like to be. You will move in that direction if you do.”
13. “Tenacity and grit over the long term will always beat natural talent and even a more established competitor.”
14. “When you get to my age, you’ll measure your success by how many people you want to have love you do love you. That’s the ultimate test of how you lived your life.”
15. “Direct focus is as much about having a not-to-do list as a do-to list. Block out distractions and focus only on the most important.”
16. “I have seen more people fail because of liquor and leverage – leverage being borrowed money. You don’t need to leverage in this world much. If you’re smart, you’ll make much money without borrowing.”
17. “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll think things differently.”
18. “It’s far better to buy a wonderful company share at a fair price than a fair company share at a wonderful price.”
19. “Over a period, there are going to be good and bad years; there is nothing to be gained by getting enthused or depressed about the sequence in which they occur.”
20. “It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you’ll drift in that direction.”
21. “It’s only when the tide goes out that you discover who’s been swimming naked.”
22. “You only must do very few things right in your life so long as you don’t do too many things.”
23. “The most important thing to do if you find yourself in a hole is to stop digging.”
24. “I try to buy stock in a business that is so wonderful that an idiot can run it. Because sooner or later, one will”
I have read these quotes in two books I referred to on Warren Buffett: 9 Daily Habits of Warren Buffett by Issac Fox & The Life Lessons & Rules for Success – Influential Individuals. Both are available on Amazon.
I hope these quotes inspire you somehow, whether you are struggling, want to improve your money situation or seek inspiration to achieve your goal.
You may consider reading Secrets of Millionaire Mind by T. Harv Eker.
Do share your favorite quote in the comments from or outside this post. I would love to hear from you.
I wish you a life of health, wealth, and happiness.
Muzammil
Major thanks for the blog. Really Cool.