Happy Birthday, Warren Buffett!
This Sunday, Warren Buffett turns 90 years young.
“What can we say about one of the greatest investment minds that hasn’t already been said?” asked LPL Financial Chief Market Strategist Ryan Detrick. “We don’t think we can say anything new, so to celebrate his birthday, we’ll let him say it.
In no particular order, here are some of LPL Research’s favorite Warren Buffet quotes.
“Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, reach for a bucket.”
“It is not necessary to do extraordinary things to get extraordinary results.”
“Only when the tide goes out do you discover who’s been swimming naked.”
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
“Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”
“In the short term, the market is a voting machine. In the long term, the market is a weighing machine.”
“Diversification is a protection against ignorance. It makes very little sense for those who know what they’re doing.”
“The difference between successful people and really successful people is that really successful people say no to almost everything.”
“I’ve seen more people fail because of liquor and leverage — leverage being borrowed money. You really don’t need leverage in this world much. If you’re smart, you’re going to make a lot of money without borrowing.”
“The stock market is a device for transferring money from the impatient to the patient.”
And our favorite quote is:
“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.”
Here’s to a great birthday weekend for Uncle Warren and another year of sharing his investment knowledge, along with a lot of McDonald’s food and Coke along the way!
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