Personal Finance
Written by Kathleen Elkins; edited by Libby Kane
2015-10-10T16:30:00Z
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Warren Buffett is one ofthe most successful investors in history. Today, he hasan estimated net worth of over $70billion, making himthe third richest man in the world.
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From drinking co*ke for breakfastto carrying around an old-school flip phone, Buffett has always done things his way.
We compiled a few of hisbest quotes totake you inside his head:
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Separate yourself from the noise.
"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."
Source: Wiley
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Always know who you're dealing with.
"You can't make a good deal with a bad person."
Source: Forbes
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Act with integrity.
"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."
Source: Time
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Keep it simple.
"It is not necessary to do extraordinary things to get extraordinary results."
Source: The Motley Fool
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You don't have to be a genius to invest well.
"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ."
Source: Warren Buffett Speaks, viamsnbc.msn
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Pick the right crowd.
"It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction."
Source: The Motley Fool
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If you want to be successful, make reading a habit.
"I just sit in my office and read all day."
Source: The Week
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Go against the crowd.
"Be fearful when others are greedy and greedy when others are fearful."
Source: Letter to shareholders, 2004
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Give to those less fortunate.
"If you're in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%."
Source: Forbes
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Bad things aren't obvious when times are good.
"After all, you only find out who is swimming naked when the tide goes out."
Source: Letter to shareholders, 2001
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Eat how you please.
"If I eat 2,700 calories a day, a quarter of that is Coca-Cola.I drink at least five 12-ounce servings. I do it every day ...I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old."
Source: Fortune, viaBusiness Insider
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Don't forget business basics.
"Price is what you pay; value is what you get."
Source: Letter to shareholders, 2008
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Success is not defined by a price tag or number.
"I measure success by how many people love me."
Source: James Altucher
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Be confident.
"I always knew I was going to be rich. I don't think I ever doubted it for a minute."
Source: goodreads
Investing Correspondent
Kathleen is a correspondent at Insider, covering investing and the path to financial freedom. She started her career as an editorial intern at Business Insider in 2015, covered personal finance at CNBC Make It for four years, and returned to Insider in 2021. She graduated from Williams College in 2014 and currently resides in Los Angeles. Follow her on Twitter at @kathleen_elk.
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