Whitney Tilson Quotes

One has to divide Warren Buffet into different periods. There is a continuously evolving style of Warren Buffett.

The person who I admire most in business is Warren Buffett. He is a long-term investor and has brilliant ideas, and he sticks to them.

I love reading Warren Buffett's letters, and I love contrasting his words with his actions. He's a very wise guy.

The market is often stupid, but you can't focus on that. Focus on the underlying value of dividends and earnings.

Much like Warren Buffett has said very famously - he doesn't buy technology stocks because he doesn't understand them- I will not buy consumer goods companies because I do not understand them.

We call ourselves 'opportunistic value investors.'

The only intelligence investing is value investing...to acquire more than one is paying for.

Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process.

I believe that the mutual fund industry's biggest shortcoming is too much focus on the momentary price of a stock - an illusion - and too little focus on the intrinsic value of the corporation - the ultimate reality. I'm comforted by the fact that Warren Buffett feels the same way.

At age 19, I read a book [The Intelligent Investor] and what I'm doing today, at age 76, is running things through the same thought process I learned from the book I read at 19.

Growth and value investing are joined at the hip.

All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.

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.

Over the time that I followed Warren Buffett, one CFO told me, it's very important to pay attention not only to what Warren Buffett says and what he actually does - often there are subtle differences between the two.

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

Trying to pick individual stocks is a trap. I can't do it. Warren Buffett can, but hardly anyone else can beat the indexes over a long period of time.

We continue to advise that investors remain committed to a patient, long-term outlook and that the best way to do well in stocks is to use a disciplined, time-tested strategy that has the benefit of empirically tested results over a variety of market environments.

Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.

When buying shares, ask yourself, would you buy the whole company?

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

Actually, I bought one share of Warren Buffett's stock, probably 35 years ago, in order to read his letters.

Warren Buffett is famous for talking about the 'intrinsic value' of stocks. But while many people parrot this phrase, few know what it really means.

The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand.

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.

Before starting my own investment funds, the only models I was aware of were those of Warren Buffett and Charlie Munger. Their models made a lot of sense to me, so I cloned them.