Warren Buffett

"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble."

"In the business world, the rearview mirror is always clearer than the windshield."

"The difference between successful people and very successful people is that very successful people say no to almost everything."

"I never try to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years."

"Our favorite holding period is forever."

"Investing is the process of laying out money now to receive more money in the future."

"The test of a first-rate intelligence is the ability to hold two opposed ideas in mind at the same time and still retain the ability to function."

"Look at market fluctuations as your friend rather than your enemy. Profit from folly rather than participate in it."

"I would rather own a little of a lot than a lot of a little."

"The best business returns are usually achieved by companies that are doing something quite similar to what they were doing five or ten years ago."

"Cash, combined with courage, is a recipe for wealth."

"Someone is sitting in the shade of a tree that someone else planted decades ago."

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

"Do not save what is left after spending; instead spend what is left after saving."

"Earnings can be discounted back to present value but you have to guess them."

"Should you find yourself in a chronically leaking boat, energy devoted to changing boats is more productive than energy devoted to patching leaks."

"Most of the important things in the world have been accomplished by people who have kept on trying when it seemed hopeless."

"For 25 of my 76 years, I will have lived happily."

"It's not necessary to do extraordinary things to get extraordinary results."

"The investor should act as though he has a lifetime decision but only one decision to make."

"Buy a stock the way you would buy a house. Think long-term."

"I'm a better investor because I'm a businessman, and a better businessman because I'm an investor."

"An investor needs to do very few things right in his lifetime as long as he or she avoids big mistakes."

"Wall Street is the only place that people drive to in a Rolls-Royce to get advice from those who take the subway."

"The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective."

"Our approach is very much a 'hell or high water' type approach."

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

"It's choice - not chance - that determines destiny."

"Time is your friend; impulse is your enemy."

"The mind of a market operator should be on a pivot, watching supply and demand."