When you combine ignorance and leverage, you get some pretty interesting results. Warren Buffett

When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact. Warren Buffett

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. Warren Buffett

Time is the friend of the wonderful company, the enemy of the mediocre. Warren Buffett

The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves-and the better the teacher, the better the student body. Warren Buffett

The only time to buy these is on a day with no "y" in it. Warren Buffett

The investor of today does not profit from yesterday's growth. Warren Buffett

The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective. Warren Buffett

Someone's sitting in the shade today because someone planted a tree a long time ago. Warren Buffett

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. Warren Buffett

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1. Warren Buffett

Risk is a part of God's game, alike for men and nations. Warren Buffett

Risk comes from not knowing what you're doing. Warren Buffett

Only when the tide goes out do you discover who's been swimming naked. Warren Buffett

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years. Warren Buffett

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it. Warren Buffett

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. Warren Buffett

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction. Warren Buffett

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

In the business world, the rearview mirror is always clearer than the windshield. Warren Buffett