Warren Buffett is obviously incredibly successful. He’s built his wealth long-term to over 66 billion dollars, making him one of the richest men in America. Warren lives by his certain set of values that he uses to invest and make other life decisions. He has some great advice that we can use to be successful.
Take a look at 29 intelligent and inspiring quotes on investing and success from Warren Buffett, one of the world’s most wealthy people.
1) Buffett’s Only Two Rules For Investing…
“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1”
2) The Market Can Price Things Wrong
“Price is what you pay. Value is what you get.”
3) High Returns With Low Risk is the Key
“Risk comes from not knowing what you are doing.”
4) Get Around the Right People
“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.
5) It’s Easier to Look Back Than to Look Into the Future
“In the business world, the rearview mirror is always clearer than the windshield.”
6) Buy Wonderful Companies
“It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.”
7) Your Public Image and Reputation
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
8) It’s OK to Dream Big
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
9) Invest for the Long Term
“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
10) Buy It Thinking You Will Hold It Forever
“Our favorite holding period is forever.”
11) People Make Investing Seem More Difficult Than it Should
“The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.”
12) Doing Nothing is Often the Right Thing to Do
“You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.
13) On Finding Honesty in Others
“Honesty is a very expensive gift. Don’t expect it from cheap people.”
14) Appreciate Where You Came From
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
15) Give Back to Society
“If you’re in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%.”
16) Don’t Make Investing Difficult
“There seems to be some perverse human characteristic that likes to make easy things difficult.”
17) Make Your Own Forecasts
“Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.”
18) It’s Usually Best to Just Say “No”
“The difference between successful people and really successful people is that really successful people say no to almost everything.”
19) Do What You Love
“In the world of business, the people who are most successful are those who are doing what they love.”
20) Actions vs. Results
“You know… you keep doing the same things and you keep getting the same result over and over again.”
21) Invest Only in Companies You Know and Trust
“An investor should act as though he had a lifetime decision card with just twenty punches on it.”
22) Manage Your Time Better
“You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.”
23) Great Investors Don’t Diversify
“Diversification is protection against ignorance. It makes little sense if you know what you are doing.”
24) Seize Great Opportunities and Load Up the Truck
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
25) History Doesn’t Dictate the Future
“If past history was all that is needed to play the game of money, the richest people would be librarians.”
26) Choose Your Heroes Wisely
“Tell me who your heroes are and I’ll tell you who you’ll turn out to be.”
27) Make Long Term Investments Over Short Term Ones
“If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.”
28) Don’t Be Greedy
“…not doing what we love in the name of greed is very poor management of our lives.”
29) Spend Time on Personal Development
“The most important investment you can make is in yourself.”
Did I miss any of your favorite quotes? Leave a comment in the comments section.
Remember this, Warren Buffett started with $100 and turned it into $30 billion. That means that it isn’t about the money you have, it’s about the knowledge you have. It means there are no real barriers to you getting rich if you’re willing to work hard and learn.
Do you want to know how your investing values line up with Buffett or if you have what it takes to invest like him? Click the button below to take this investing personality quiz. You may discover your investing weaknesses and learn how to manage your money smarter.
Featured Photo Credit: Stuart Isett/Fortune Most Powerful Women/Flickr, used under a Creative Commons license.