• 'My idea of a group decision is to look in the mirror.'
• 'Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.'
• 'The smarter the journalists are, the better off society is.'
• 'Success in investing doesn't correlate with IQ once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.'
• 'Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.'
• 'You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right - that's the only thing that makes you right. And if your facts and reasoning are right, you don't have to worry about anybody else.'
• 'There seems to be some perverse human characteristic that likes to make easy things difficult.'
• 'In the short run, the market is a voting machine but in the long run it is a weighing machine.'
• 'It's only when the tide goes out that you learn who's been swimming naked.'
• 'Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you. You think about it; it's true. If you hire somebody without the first, you really want them to be dumb and lazy.'
• 'There are three kinds of people in the world: those who can count, and those who can't.'
• 'It takes 20 years to build a reputation and five minutes to lose it.'
Democratic presidential hopeful US Senator Hillary Rodham Clinton (L), D-NY, speaks with Warren Buffett (R) at a fundraiser in New York.
Photograph: Stan Honda/AFP/Getty Images
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