Warren Buffett (2024)

Price is what you pay. Value is what you get.
letter to partners, 20 January 1966, in Warren Buffett Speaks (2007)
See Also
The Safest and the Riskiest Assets 10 common investing mistakes to avoid Shocking But True: 90% of People Lose Money in Stocks Cash Investment: Explanation, Examples and Types
Be fearful when others are greedy, be greedy when others are fearful.
letter to shareholders 1986; L. A. Cunningham Essays of Warren Buffett (1998)
Rule No 1: never lose money. Rule No 2: never forget rule No 1.
in Forbes 400 27 October 1986; Janet C. Lowe Warren Buffett Speaks (1997)
See Also
Low risk investment definition
Investment must be rational; if you can't understand it, don't do it.
usually quoted as ‘Never invest in a business you cannot understand’
in Forbes 400 21 October 1991
It's only when the tide goes out that you learn who's been swimming naked.
at Berkshire Hathaway annual meeting, Omaha, 1993; Warren Buffet Speaks (1997)
Risk comes from not knowing what you're doing.
in Omaha World-Herald 2 January 1994; Janet C. Lowe Warren Buffett Speaks (1997)
A very rich person should leave his kids enough to do anything but not enough to do nothing.
quoted in Fortune Magazine (online edition) 25 June 2006