Whether he’s into to batteries, ice cream or Ketchup, Berkshire Hathaway and Warren Buffett have created a powerhouse company that manages over 80 businesses. And Berkshire Class A stock is currently trading for more than $210,000 per share.
Since Berkshire Hathaway is the real deal, there’s no question about the legitimacy of the charismatic leader Warren Buffett. At 84 years of age, his net worth is more than $66.8 billion, based on a recent report. And for all intents and purposes, he seems to be worth even more than that at this time.
Warren Buffett is the second richest person in the United States, only beaten out by Bill Gates, worth $81.5 billion, and cofounder of Microsoft. He’s ahead of Larry Ellison; head of Oracle and worth $47.3 billion.
Buffett is incredibly talented when it comes to investing in business. He’s an inspiration to many. Here are 10 of his most insightful quotes, found throughout the web and the Berkshire Hathaway shareholder letters that he writes each year.
Give Clarity to Your Mind
“I insist on a lot of time being spent, almost every day, to just sit and think. 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. I do it because I like this kind of life.”
Do Not Forget the Basics
“Price is what you pay. Value is what you get.”
Understand What You’re Getting into Prior to Getting into It
“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
Be Realistic and Smart
“I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”
Do Not Fake It until You Make It
“After all, you only find out who is swimming naked when the tide goes out.”
Make It a Point to Know Who You’re Dealing with
“You can’t make a good deal with a bad person.”
Act with Integrity and Honor
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Value Is the Most Important Thing
“Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.”
Take a Break When it’s Needed
“The most important thing to do if you find yourself in a hole is to stop digging.”
Be Confident and Bold
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”