21 great quotes from Warren Buffett, the world’s most famous and successful investor

Warren Buffett, chairman of the American multinational conglomerate Berkshire Hathaway, based in Omaha, Nebraska, is one of the most famous investors around. He has an estimated net worth of nearly US$85 billion, making him the third-richest person in the world. Buffett, 88, is known for many things – his fast-food-heavy diet, his reading habit, his philanthropy and his value-focused style of investing. People around the world are so fascinated with the legendary Buffett that they’ll spend millions of dollars to eat lunch with him. Who wants to be a millionaire? 3 easy ways you can build wealth While you may not have that much money lying around, you can still learn from the American’s brilliant mind by reading his famous quotes. Check out 21 great quotes from the so-called “Oracle of Omaha”. 1. ‘Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years’ 2. ‘Don’t watch the market closely’ “Don’t watch the market closely,” Buffett said during a wild bout of market volatility in 2016. “If they’re trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe sell them when they go up, they’re not going to have very good results.” 3. ‘I always knew I was going to be rich’ “I always knew I was going to be rich,” he said. “I don’t think I ever doubted it for a minute.” 4. ‘Someone’s sitting in the shade today because someone planted a tree a long time ago’ 5. ‘I read and think’ “I insist on a lot of time being spent, almost every day, to just sit and think,” he once said. China’s love for luxury puts Bernard Arnault hot on Buffett’s heels “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.” 6. ‘Risk comes from not knowing what you’re doing’ 7. ‘You only have to do a very few things right in your life so long as you don’t do too many things wrong’ You cannot make a good deal with a bad person 8. Leave children ‘enough money so that they would feel they could do anything, but not so much that they could do nothing’ The perfect amount to leave to your kids, he told Fortune magazine in 1986, is “enough money so that they would feel they could do anything, but not so much that they could do nothing.” 9. ‘The light can at any time go from green to red without pausing at yellow’ “When major declines occur, they offer extraordinary opportunities to those who are not handicapped by debt,” Buffett wrote in a letter to Berkshire Hathaway’s shareholders in 2017, highlighting the argument against ever borrowing money to buy stocks. “No one can tell you when these will happen. The light can at any time go from green to red without pausing at yellow.” 10. ‘It takes 20 years to build a reputation and five minutes to ruin it’ 11. ‘You cannot make a good deal with a bad person’ “You cannot make a good deal with a bad person,” Buffett reportedly told Suzy Welch, a bestselling management author and CNBC contributor. She said it was Buffett who gave her the career advice that has helped her more than any other wisdom she’s received. 12. ‘Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down’ 25 richest families in the world – ranked 13. Only invest in ‘simple businesses’ that you understand In a 2014 letter to shareholders, Buffett laid out six criteria he applies to measure a company’s fundamentals. One criterion is that he invests only in “simple businesses”. He said: “If there’s lots of technology, we won’t understand it.” Price is what you pay. Value is what you get 14. ‘Stocks [have] been so much more attractive than bonds’ “The one thing I’m sure of is that over time, stocks from this level will beat bonds from this level,” Buffett said in 2017. “Stocks [have] been so much more attractive than bonds for a long time now.” 15. ‘Rule No 1: Never lose money. Rule No 2: Don’t forget rule No 1’ 16. ‘The difference between successful people and really successful people is that really successful people say no to almost everything’ 17. ‘In the business world, the rear-view mirror is always clearer than the windshield’ 18. ‘It’s better to hang out with people better than you’ Find out the insanely extravagant secrets of Microsoft co-founder Bill Gates’ hi-tech US$127 million home 19. ‘Cryptocurrencies will come to bad endings’ “Cryptocurrencies will come to bad endings,” Buffett said at Berkshire Hathaway’s annual meeting in 2018. “There’s nothing being produced in the way of value from the asset.” “It’s something where people who are of less-than-stellar character see an opportunity to clip people who were trying to get rich because their neighbour’s getting rich buying this stuff neither one of them understands.” Meet the Ambanis, the richest family in Asia, who live in a US$1 billion skyscraper 20. ‘Price is what you pay. Value is what you get’ 21. ‘Only when the tide goes out do you discover who is swimming naked’ Want more stories like this? Sign up here. Follow STYLE on Facebook, Instagram and Twitter This article originally appeared on Business Insider .

21 great quotes from Warren Buffett, the world’s most famous and successful investor

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;} The businessman and philanthropist – worth an estimated US$85 billion – is known for his many words of wisdom

The businessman and philanthropist – worth an estimated US$85 billion – is known for his many words of wisdom