The business wisdom of Warren Buffett

Buffett-1Here are ten of my favorite Buffett quotations:

o It is not necessary to do extraordinary things to get extraordinary results.

o What we learn from history is that people don’t learn from history.

o Chains of habit are too light to be felt until they are too heavy to be broken.

o The difference between successful people and really successful people is that really successful people say no to almost everything.

o Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.

o Rule No. 1: never lose money; rule No. 2: don’t ever forget rule No. 1.

o Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway.

o I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

o It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.

o Price is what you pay. Value is what you get.

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