Buffett's famous sayings

1. In 1919, the Coca-Cola Company went on sale for about $40. A year later, the stock price fell by 50% to only $19. Then there is the bottle problem, the price of sugar, and so on. A few years later, the Great Depression, the Second World War, the nuclear weapons race, and so on, there were always incidents that were unfavorable. However, if you buy one at the beginning with 40 dollars, and then you continue to invest in the dividends distributed, then now, the $40 Coca-Cola company stock has become 5 million. This fact overwhelm everything. If you look at the business model, you will make a lot of money.

2. An outstanding company can anticipate what might happen in the future, but not necessarily know when it will happen. The center of gravity needs to be placed on "what" rather than "when". If the judgment of "what" is correct, then you don't have to worry about "when".

3. The way out is to find a good way, and then persevere, to the best possible, until the dream becomes a reality. However, on Wall Street, the price is called once every five minutes. People buy and sell under your nose. It is very difficult to do what you want to do.

4. Wall Street relies on constant trading to make money, and you rely on not making money to buy and sell. Everyone in this room trades the stocks you own each day, and in the end everyone will go bankrupt, and all the money goes into the pockets of the brokerage company. On the contrary, if you are like a general business, you will not be moved for 50 years, and in the end you will be happy, and your brokerage company will go bankrupt.

5. When a glorious business class encounters a gradual decline of the sunset industry, the latter often prevails.

6. The so-called “transfer” enterprises rarely have successful cases. Instead of spending time and energy on buying bad companies, it is better to invest in some good companies at fair prices.

7. Investors must keep in mind that your investment performance is not scored in the way of the Olympic diving competition. The difficulty is not important. You are right to invest in a company that is easy to understand and competitive. Analysis of a company with constant, complex and difficult variables can be said to be comparable.

8. In recent years, my investment focus has shifted. We don't want to buy the worst furniture at the cheapest price. What we want is to buy the best furniture at a reasonable price.

9. When some large companies temporarily experience a crisis or a stock market decline, and there are profitable trading prices, they should not hesitate to buy their shares.

10. Experience has shown that companies that can create new highs are usually not much different from what they did five years ago or even ten years ago.

11. We will not end the less profitable business by increasing the profitability of the company by one percentage point. At the same time, we also feel that it is unconditional to support an investment that is completely unpromising because the company is very profitable. Too proper, Adam Smith must not agree with my first opinion, and Karl Max will oppose my second opinion, and adopting the middle way is the only way to make me feel at ease.

12. Investing in a market where people believe in market effectiveness is like playing a bridge with someone who is not good at showing a card.

13. Current financial courses may only help you to do something extraordinary.

14. There is no formula that can calculate intrinsic value. You have to understand this business.

15. You don't have to wait until the company falls to the bottom to buy its stock. The price of the selected company's stock is lower than what you think it is and the company must be run by honest and capable people. However, if you can buy its shares at a price lower than the current value of a company, you have confidence in its management, and you have bought a number of shares similar to the company, then you can earn money just around the corner. .

16. Today's investors are not profiting from yesterday's growth.

17. Berkshire is like the Metropolitan Museum of Art in the business world, and we prefer to collect the greatest companies of our time.

18. It is very difficult to truly understand the characteristics and complexity of the culture that nurtures you, not to mention other cultures that are diverse. In any case, most of our shareholders use the dollar to pay their bills.

19. You are dealing with many fools in the market; it's like a huge casino, everyone except you is rushing to drink. If you have been drinking Pepsi, you may win.

20. We do not need too many people in the country to use the non-essential tools closely related to the stock market to gamble, nor do we need to encourage these brokers to do so. What we need is investors and advisers who can make investments based on a company's vision.

63. Investing is not a game with an IQ of 160 who will be able to beat the IQ of 130 people.

64. The market is like God, helping those who help themselves, but unlike God, he does not forgive those who do not know what they are doing.

65. Even if Fed Chairman Greenspan secretly told me about his monetary policy for the next two years, I would not change any of my actions.

66. I only do what I fully understand.

67. Different people understand different industries. The most important thing is to know which industries you understand and when your investment decisions are within your own capabilities.

68. We have achieved our current achievements because we are concerned with finding a one-foot barrier that we can span, rather than having the ability to fly seven feet.

69. Many things will be profitable to do, but you must insist on doing things only within your own abilities. We have no way to knock down Tyson.