Evolveus Posted January 3, 2011 Share Posted January 3, 2011 If you're a member here, I'm certain you've read these before, but I don't think I can read these enough. Nuggets of wisdom from two great men of extraordinary character. Enjoy :) "I made my first investment at age eleven. I was wasting my life up until then." - Warren Buffett "My idea of a group decision is to look in the mirror." - Warren Buffett "It takes twenty years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." - Warren Buffett "You're lucky in life if you have the right heroes. I advise all of you, to the extent that you can, pick out a few heroes. There's nothing like the right ones." - Warren Buffett "I'm the luckiest guy in the world in terms of what I do for a living. No one can tell me to do things I don't believe in or things I think are stupid." - Warren Buffett "I choose to work with every single person that I work with. That ends up being the most important factor. I don't interact with people I don't like or admire. That's the key. It's like marrying." - Warren Buffett "I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself." - Warren Buffett "Investment must be rational; if you can't understand it, don't do it." - Warren Buffett "We simply attempt to be fearful when others are greedy, and to be greedy only when others are fearful." - Warren Buffett "We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a romantic." - Warren Buffett "Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars." - Warren Buffett ---------------------------------------------------------------------------- "Spend each day trying to be a little wiser than you were when you woke up." - Charlie Munger "In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero." - Charlie Munger "Choose clients as you would friends." - Charlie Munger "It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities." - Charlie Munger "No wise pilot, no matter how great his talent and experience, fails to use his checklist." - Charlie Munger "There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back." - Charlie Munger "Once you get into debt, it’s hell to get out. Don’t let credit card debt carry over. You can’t get ahead paying eighteen percent." - Charlie Munger "Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer." - Charlie Munger "Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy." - Charlie Munger "I won’t bet $100 against house odds between now and the grave." - Charlie Munger "I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart." - Charlie Munger h/t to Howard Donnelly THE Podcast Editors Link to comment Share on other sites More sharing options...
merkhet Posted January 3, 2011 Share Posted January 3, 2011 I really love that last one from Munger. Link to comment Share on other sites More sharing options...
bookie71 Posted January 3, 2011 Share Posted January 3, 2011 Don't forget Munger's "turds and raisins ..." Link to comment Share on other sites More sharing options...
shalab Posted January 3, 2011 Share Posted January 3, 2011 Found this one from Poor Charlie's Almanack and like the "Poor Richard's Alamanack" as well , though this one is from Franklin: "It is a grand mistake to think of being great without goodness and I pronouce it as certain that there was never a truly great man that was not at the same time truly virtuous" - Ben Franklin Link to comment Share on other sites More sharing options...
yseric Posted January 4, 2011 Share Posted January 4, 2011 love these quotes.... wish we could compile a comprehensive list of them... :P Link to comment Share on other sites More sharing options...
augustabound Posted January 14, 2011 Share Posted January 14, 2011 This isn't a Buffett quote, but it runs parallel to what he preaches I think. It's from An Wang, the creator of Wang Laboratories, a pioneer in electronics. "Success is more a function of consistent common sense than it is of genius." Link to comment Share on other sites More sharing options...
stahleyp Posted January 14, 2011 Share Posted January 14, 2011 love these quotes.... wish we could compile a comprehensive list of them... :P http://www.amazon.com/Warren-Buffett-Speaks-Greatest-Investor/dp/047116996X :) Link to comment Share on other sites More sharing options...
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