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2009-10-26 09:10:12
Warren Buffett, known to many as the Oracle of Omaha, is considered one of the
world's greatest investors.
His financial success means that his words of wisdom, or Buffettisms, are
treasured by many as elixirs of truth. Here's a selection:
Rule No.1: Never lose money.
Rule No.2: Never forget rule No.1
Be fearful when others are greedy.
Be greedy when others are fearful
It is far better to buy a wonderful company at a fair price than a fair
company at a wonderful price
Whether we're talking about socks or stocks, I like buying quality
merchandise when it is marked down
Price is what you pay. Value is what you get
It takes a lifetime to build a reputation and five minutes to ruin it
Cash combined with courage in a crisis is priceless
Never invest in a business you cannot understand
Only buy something that you'd be perfectly happy to hold if the market shut
down for ten years
Someone is sitting in the shade today because someone planted a tree a long
time ago
Risk comes from not knowing what you're doing
If you don't feel comfortable owning something for 10 years, then don't own
it for 10 minutes
If a business does well, the stock eventually follows
I wouldn't mind going to jail if I had three cellmates who played bridge
The fact that people will be full of greed, fear or folly is predictable. The
sequence is not predictable
Come to Omaha - the cradle of capitalism - in May and enjoy yourself.
The World's Greatest Money Maker: Evan Davis meets Warren Buffett, broadcast
2100 Monday 26 October and 2320BST Tuesday 27 October on BBC Two.