Nicknamed the “Oracle of Omaha”, Warren Buffet, grew Berkshire Hathaway from a failing textile company in 1965 into a giant conglomerate valued at more than US$1 trillion and with liquid assets of US$300 billion as of May 2025.
According to Forbes, his personal net worth now exceeds US$150 billion. Beyond investing, Buffett has also raised over US$53 million for the charity Glide through his annual lunch auctions, with the final one in 2022 fetching a record-breaking US$19 million.
At 94, Buffett recently announced he will step down as CEO of Berkshire Hathaway, naming Greg Abel as his successor. As one of the world’s most respected investors, his plainspoken wisdom is closely followed by investors around the globe – especially in his widely read annual letter to Berkshire Hathaway shareholders.
Here are some of his famous quotes and what they can teach us as investors.
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#1 “Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway.”
Warren Buffett is surprisingly frugal for someone with such a high net worth. He neither owns a mobile phone nor a laptop. In 2014, Buffett told shareholders during a meeting that his quality of life isn’t impacted by the amount of money he has.
For many people, once they have been promoted or received their annual bonus, the extra money received typically goes toward fulfilling some (or many) wants. This is called lifestyle inflation. This toxic financial habit keeps many Singaporeans from achieving financial freedom, setting up an emergency fund, investing, and planning for retirement.
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#2 “Go After what you know.”
When picking stocks, many investors chase tips on unfamiliar companies without truly understanding the business. Buffett advises sticking to what you know (i.e. investing within your circle of competency).
He famously avoided tech stocks during the late 1990s boom, admitting he didn’t fully understand them. Though ridiculed at that time, he avoided the tech crash that followed, which ultimately proved his point.
When he finally invested in Apple, his description of the company was not tech-focused, but rather because of its valuable consumer products with powerful brand loyalty.
#3 “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.”
As a strong advocate of long-term investing, Buffett does not encourage holding investments for a short period because the long term is where large amounts of returns are made. If we follow his advice and judge a company based on whether it will continue to do well after 10 years, it will change the way we assess stocks from emotional to rational.
#4 “Startups are not our game.”
Crowdfunding is all the rage these days. Especially when we can invest in the hottest, up and coming startups (or so they say) with online banking, many people gloss over the risks involved in investing in startups.
Typically, startups don’t make it big and rather fail within their first few years, with poor cost control being one of the common issues. Buffett typically looks for companies with a strong earnings track record of at least 5 years before he invests.
#5 “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”
The reason behind the temptation can be summed up in a word: emotions. Emotions, predominantly greed and fear drives people to make decisions based on impulse.
#6 “Market forecasters will fill your ears but never fill your wallet.”
Warren Buffett also said, “I think the worst mistake you can make in stocks is to buy or sell based on current headlines.” Market forecasters usually react to economic changes and business news aka the headlines.
He advises, “The lower prices go, as long as you know the company you’re investing in, the better it is for a buyer. Down days always make me feel good.”
#7 “Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.”
Many investors without proper investment know-how buy when prices are high. This means they are buying when everyone else is buying. When the herd is not interested in stocks, such as when fear is high, pessimism will drive the prices down and if the company’s fundamentals are good, it will bring significant return thereafter when confidence starts to pick up.
#8 “All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.”
Read #6 again. If there’s only one thing you can learn from this article, it is that Warren Buffett advocates long-term investing. Holding your stocks only during the short-term can be a result of an emotional decision that spurs you to sell. This includes situations such as an analyst saying a recession is imminent, a change in CEO, or rumors.
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#9 “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
Knowing what to buy is important – but knowing what to pay is just as critical. Warren Buffet stresses that it’s better to invest in high-quality companies with strong fundamentals and long-term growth potential at a fair price rather than wait for deep discounts on mediocre companies.
While we might be tempted to hold out for cheaper stock prices, investing in exceptional businesses at a fair price may often lead to better returns over time.
#10 Charlie and I never have an opinion about the market.”
Stock markets tend to fluctuate widely with every piece of economic or political news, often stirring fear or excitement. Reacting to these headlines can affect our decision and lead to missed opportunities. That’s why, both Charlie Munger and Warren Buffett avoid market predictions and instead focus on identifying great businesses and buying them when the price is right.
#11 “It’s only when the tide goes out that you learn who’s been swimming naked.”
When assessing a company’s fundamentals, it’s important to consider it against the overall economic and market conditions. During booming markets, even weak companies or highly leveraged ones can appear to be successful. But when the conditions worsen, only the companies with strong fundamentals will be able to survive, and in some instances are able to seize more opportunities for further growth.
#12 “I read annual reports of the company I’m looking at, and I read the annual reports of the competitors – that is the main source of material.”
This is one of the most important things to do before committing to buying a stock of any company. The annual reports tell you a lot about the financial health of the firm. But it is not enough to simply look at the latest annual report because the performance of the company could be dependent on the economic situation in the world during that financial year.
Annual reports should be compared over a few years to really track the growth of the company before deciding if their fundamentals are strong enough to weather bad short-term economic outlook.
Read Also: 10 Financial Terms Investors Should Know When Looking At Annual Reports
#13 “Money to some extent sometimes lets you be in more interesting environments. But it can’t change how many people love you or how healthy you are.”
Despite being extremely wealthy, there are things that even Warren Buffett cannot buy, such as love and health. Although money allows you to experience cool things like a nice vacation to Santorini or dining at a top fine dining restaurant, love and health still cannot be bought. You should not take your friends, family, and physical wellness for granted regardless of the state of your finances.
#14 “We enjoy the process far more than the proceeds.”
It is common advice that when you follow your passion, money will follow. There is no point if you devote your life to something you simply do not enjoy. Perhaps the secret behind Warren Buffett’s legacy is doing what he loves. So, what drives you?
Read Also: The Stock Market Has Crashed. Here’s 5 Things Investors Can Do In A Bear Market
#15 “All good things come in time.”
One of Warren Buffet’s long-term investment in Coca-Cola – held for nearly 40 years – has grown around 36x and is consistently paying out dividends equal to 50% of his original investment each year.
Once you invest in a wonderful business, be patient. Let compounding do the heavy lifting, rather than chasing short term market swings.
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