15 quotes from Warren Buffett that take you inside the mind of a legendary investor

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Warren Buffett, the billionaire “Oracle of Omaha.”
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Paul Morigi/Getty

Warren Buffett is one of the most successful investors in history. Today, he has an estimated net worth of over $70 billion, making him the third richest man in the world.

From drinking Coke for breakfast to carrying around an old-school flip phone, Buffett has always done things his way.

We compiled a few of his best quotes to take you inside his head:


Separate yourself from the noise.

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REUTERS/Rick Wilking

“I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.”

Source: Wiley


Always know who you’re dealing with.

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Quora

“You can’t make a good deal with a bad person.”

Source: Forbes


Act with integrity.

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

Source: Time


Keep it simple.

“It is not necessary to do extraordinary things to get extraordinary results.”

Source: The Motley Fool


You don’t have to be a genius to invest well.

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YouTube / University of Nebraska–Lincoln

“You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.”

Source: Warren Buffett Speaks, via msnbc.msn


Pick the right crowd.

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Eric Francis/Getty Images

“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.”

Source: The Motley Fool


If you want to be successful, make reading a habit.

“I just sit in my office and read all day.”

Source: The Week


Go against the crowd.

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Paul Morigi/Getty

“Be fearful when others are greedy and greedy when others are fearful.”

Source: Letter to shareholders, 2004


Give to those less fortunate.

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REUTERS/Rick Wilking

“If you’re in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%.”

Source: Forbes


Some things take time.

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Brendan Hoffman/Getty

“No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.”

Source: Forbes


Bad things aren’t obvious when times are good.

“After all, you only find out who is swimming naked when the tide goes out.”

Source: Letter to shareholders, 2001


Eat how you please.

“If I eat 2,700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. I do it every day … I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old.”

Source: Fortune, via Business Insider


Don’t forget business basics.

“Price is what you pay; value is what you get.”

Source: Letter to shareholders, 2008


Success is not defined by a price tag or number.

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Truth Leem/Reuters

“I measure success by how many people love me.”

Source: James Altucher


Be confident.

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REUTERS/Jo Yong-Hak

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”

Source: goodreads