Financial Decision Making Quotes

If you spend your own money on yourself, you care how much you spend and how well you spend it. If you spend your own money on someone else, you care how much you spend, but you don't care how well it is spent. If you spend someone else's money on yourself, you don't care how much you spend, but you do care how well it is spent. And finally, if you spend someone else's money on someone else, you don't care how much you spend, and you don't care how well it is spent. That is government.

Sunk costs? We pay too much attention to them.

Men make different investments than women do. Women tend to invest more of their earnings than men do in their family's well-being - as much as 10 times more.

When I was a kid, I reckoned things in Hershey bars. Is this worth three Hershey bars to me?

Money is 80% behavior, 20% head knowledge. It's what you do, not what you know.

I believe, in the stock market - that's one of my fields - that most people are irrational. And to be irrational, you can be irrational in so many different ways that, practically, the result is indeterminate.

A good financial planner is going to do more than pick your funds.

If I feel like something's gonna be right, I invest in it, whatever it is.

Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.

Just because one of you earns the paycheck doesn't mean that person should lord over how the money is handled.

If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.

With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock

You must trust yourself more than you trust anyone else with your money.

They brought on someone who cost more than our stadium.

Thankfully, in my youth I had the best financial advisor a son could ask for: my dad Walter. When I got that first signing bonus in 1978, Dad took my cheque, announced, 'This is what we're going to do,' and bought an annuity with it.

Who would think of buying or selling a private business because of someone's guess on the stock market? The availability of a quotation for your business interest (stock) should always be an asset to be utilized if desired. If it gets silly enough in either direction, you take advantage of it. Its availability should never be turned into a livability whereby its periodic aberrations in turn formulate your judgements.

A woman of fortune being used the handling of money, spends it judiciously; but a woman who gets the command of money for the first time upon her marriage, has such a gust in spending it, that she throws it away with great profusion.

I don't need a $100 million mistake. Try to make a $5 million mistake if you have to make one.

I spend about fifteen minutes a year on economic analysis.

If I do not do sensible things about investments I shall spend my old age in a workhouse, where nobody will understand my jokes.

An investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace.

Hundreds of investors ask me questions each year about the dilemmas they confront. Their worst problem? Uncertainty. They are traumatized and become emotional or confused to the state of inaction. Even worse, they try to solve a short-term problem in a way that hurts them financially in the long run.

Poor people choose now. Rich people choose balance.

Money is very difficult to think about. So, we think about money as the opportunity cost of money. So, we at some point went to a Toyota dealership and we asked people, what will you not be able to do in the future if you bought this Toyota? Now, you would expect people to have an answer. But people were kind of shocked by the question. They never thought about it before. So, the most we got was people said, "Well, if I can't buy this Toyota, if I buy this Toyota, I can't buy a Honda." What is this thing? What is this value of price? Very hard to think about it.

After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity costs don't show up on financial statements, but have cost us many billions.