Gems from Warren Buffett: Wit and Wisdom from 34 Years of Letters to Shareholders

by Mark Gavagan

“Ben Graham taught me 45 years ago that in investing it is not necessary to do extraordinary things to get extraordinary results. In later life, I have been surprised to find that this statement holds true in business management as well. What a manager must do is handle the basics well and not get diverted.” -1994 letter

“I ignored Comte’s advice - ‘the intellect should be the servant of the heart, but not its slave’ - and believed what I preferred to believe.”

“Price and value can differ; price is what you give, value is what you get.” -1983 letter

“No matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.” -1989 letter