Warren Buffett Quotes

Invest at the point of maximum pessimism.

I'd rather buy something that is relatively depressed than something that is relatively high.

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

When high-growth companies slow down, growth and momentum junkies often sell indiscriminately, which can create great opportunities for value investors. Just be careful not to anchor on the stock's previous price or earnings multiple, which are no longer relevant.

Too often, the public can fall into the trap of investing when stock prices are rising, not dropping.

Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.

Buy when everyone else is selling and hold until everyone else is buying. That's not just a catchy slogan. It's the very essence of successful investing.

Experience teaches that the time to buy stocks is when their price is unduly depressed by temporary adversity. In other words, they should be bought on a bargain basis or not at all.

I buy when other people are selling.

But my system for over 30 years has been this: When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30.

If there's a recession, I'd buy stocks. That's when you make money: when markets are spooked.

The way to make money is to buy when blood is running in the streets.

The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don't, so we buy. Then people start selling, panic sets in, and we sell too.

As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.

The single biggest advantage a value investor has is not IQ. It's patience and waiting. Waiting for the right pitch, and waiting for many years for the right pitch.

We call ourselves 'opportunistic value investors.'

I try to buy shares of unpopular companies when they look like road kill and sell them when they've been polished up a bit.

The central principle of investment is to go contrary to the general opinion, on the grounds that if everyone agreed about its merits, the investment is inevitably too dear and therefore unattractive.

We have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.

Outperforming the majority of investors requires doing what they are not doing. Buying when others have despaired, and selling when they are full of hope, takes fortitude.

We have not known a single person who has consistently or lastingly make money by thus "following the market". We do not hesitate to declare this approach is as fallacious as it is popular.

The late 90s almost forced me to identify myself as a value investor, because I thought what everybody else was doing was insane.

When good news about the market hits the front page of the New York Times, sell.

There is only one side of the market and it is not the bull side or the bear side, but the right side.

Buy into good, well-researched companies and then wait. Let's call it a sit-on-your-hands investment strategy.