Price is what you pay; value is what you get.
Berkshire Hathaway shareholder letter (2008)
WB
Warren Buffett quotes
b. 1930 · Business and entrepreneurs
Chairman of Berkshire Hathaway and one of the most successful investors in history.
12 quotes, 12 traced to where Buffett said or wrote them.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
Berkshire Hathaway shareholder letter (1986)
You only find out who is swimming naked when the tide goes out.
Berkshire Hathaway shareholder letter (2001)
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Berkshire Hathaway shareholder letter (1989)
Time is the friend of the wonderful business, the enemy of the mediocre.
Berkshire Hathaway shareholder letter (1989)
When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
Berkshire Hathaway shareholder letter (1988)
Someone's sitting in the shade today because someone planted a tree a long time ago.
Statement (1991), quoted in Of Permanent Value by Andrew Kilpatrick
It takes 20 years to build a reputation and five minutes to ruin it.
As quoted in Corporate Survival by Dan Robert Anderson (2005)
In the business world, the rearview mirror is always clearer than the windshield.
Berkshire Hathaway shareholder letter (1991)
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Berkshire Hathaway shareholder letter (1985)
Investors should remember that excitement and expenses are their enemies.
Berkshire Hathaway shareholder letter (2004)
Criticize by category, praise by name.
Interview, CNBC (2019)