"A Fool And His Money are Soon invited Everywhere" 

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

Price is what you pay. Value is what you get.

Chains of habit are too light to be felt until they are too heavy to be broken. 

Only when the tide goes out do you discover who's been swimming naked.

“No matter how great the talent or efforts, some things just take time.  You can’t product a baby in one month by getting nine women pregnant.”

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

The stock market is a no-called-strike game. You don't have to swing at everything—you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, "Swing, you bum!"

“Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.”

I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

“You do not adequately protect yourself by being half awake when others are sleeping."

"These investors like to fantasize about future profitability rather than face today's business realities. For such investor-dreamers, any blind date is preferable to one with the girl next door, no matter how desirable she may be."

A public-opinion poll is no substitute for thought.

Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.

“There seems to be some perverse human characteristic that likes to make things difficult.”

Success in investing doesn't correlate with I.Q. once you're above the level of 125. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.

We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.

Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.

The most common cause of low prices is pessimism—some times [sic] pervasive, some times[sic] specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.

The tendency to conformity in our society is so strong that reasonably intelligent and well-meaning young people are willing to call white black.There are two main reasons –

1. We want to be liked by others, especially by a group, and2. We believe the group is better informed than we are. – vishal, safal niveshak.

Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. – steve jobs

You’re going to make mistakes. You can’t play in the game without making any mistakes. I don’t think about it, I just move on. Most business mistakes are irreversible setbacks, but you get another chance. There are two things in life that you don’t get another chance at – marrying the wrong person and what you do with your children. Business, you just go on. It’s a mistake to dwell on mistakes, it’s unproductive. It’s like Mark Twain’s story about the cat that sat on a hot stove – he never sat on a hot stove again, but he never sat on a cold one again either. – warren buffett