Frases de Warren Buffett

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“São necessários 20 anos para construir uma reputação e apenas cinco minutos para destruí-la.”

“Alguém está sentado na sombra hoje porque alguém plantou uma árvore há muito tempo.”

“Encontre alguma coisa pela qual seja apaixonado. E só trabalhe cm pessoas de quem goste. Se você trabalha todos os dias com o estômago embrulhado, está no lugar errado.”

“Quero dar a meus filhos bastante dinheiro para que possam fazer o que quiserem, mas não dinheiro o bastante para que não façam nada.”

“Honestidade é um presente muito caro. Não espere isso de pessoas baratas.”

“É claro que o futuro imediato é incerto. A América enfrenta o desconhecido desde 1776. É que algumas vezes as pessoas focam na grande quantidade de incertezas que sempre existe enquanto em outras épocas as pessoas ignoram isso (geralmente porque o passado recente não teve muitos eventos).”

“O objetivo da vida é ser amado pelo maior número de pessoas possível entre aquelas que você deseja que amem você.”

“Perca dinheiro da firma, e eu serei compreensivo. Perca uma migalha da reputação da firma, e eu serei impiedoso.”

“Não tenho problemas com culpa por dinheiro.”

“Previsões geralmente nos falam mais sobre quem faz a previsão do que da previsão em si mesmo.”

“Os investidores devem ser medrosos quando os outros forem gananciosos e gananciosos quando os outros forem medrosos.”

“A volatilidade dos mercados é a maior aliada do verdadeiro investidor.”

“Oportunidades surgem com pouca frequência. Quando chover ouro, retire o balde, não o dedal.”

“Um investidor deve agir como se tivesse um cartão de decisão vitalício com apenas vinte socos.”

“Os investidores devem se lembrar que a excitação e os gastos são seus inimigos. E se insistirem em cronometrar a sua participação em ações, eles deveriam tentar ser medrosos quando os outros forem gananciosos e gananciosos quando os outros forem medrosos.”

“Você vai dormir tranqüilamente só de pensar que a barba de 2 bilhões e meio de homens está crescendo enquanto você dorme. Ninguém da Gillette tem insônia”

“Você só descobre quem estava nadando pelado quando a maré abaixa.”

“Eu relutei, mas acabei por descartar a possibilidade de continuar a gerir o portifólio da Berkshire depois da minha morte. E, com isso, abandonei a esperança de dar um novo significado à expressão 'pensar fora da caixa'.”

“Não importa quão sereno o dia de hoje pode ser, o amanhã é sempre incerto. Não deixe essa realidade assustar você.”

“Trinta anos atrás, ninguém poderia ter previsto o imenso impacto da Guerra do Vietnã, de duas crises do petróleo, da renúncia de um presidente, da dissolução da União Soviética (…). Diferentes choques ocorrerão nos próximos 30 anos. Não tentaremos prevê-los, nem lucrar com eles.”

“Tratem seu corpo como se fosse o único carro que terão. Mimem esse carro. Guardem-no na garagem todas as noites, consertem todos os amassados e troquem o óleo todas as semanas.”

“Diversificação só é necessária quando os investidores não entendem o que estão fazendo.”

“Somente aqueles que serão vendedores de ações no futuro próximo deveriam ficar felizes com sua valorização.”

“Filmes são divertidos, mas eles não são uma cura para o cancêr.”

“Se você não conhece a jóia, conheça o joalheiro.”

“No mercado de ações, você não baseia suas decisões no que o mercado está fazendo, mas no que você acha que é racional.”

“É como escolher a equipe olímpica de 2020 escolhendo os filhos de todos os vencedores dos Jogos de 2000.”

“Look for integrity, intelligence and energy.”

“Success in investing doesn't correlate with I. Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.”

“Just because Charlie and I can clearly see dramatic growth ahead for an industry does not mean we can judge what its profit margins and returns on capital will be as a host of competitors battle for supremacy. At Berkshire we will stick with businesses whose profit picture for decades to come seems reasonably predictable. Even then, we will make plenty of mistakes.”

“Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics (bearing in mind that there are really only three kinds of people in the world: those who can count and those who can't).”

“If I was running $1 million today, or $10 million for that matter, I'd be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I've ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It's a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.”

“Management's objective is to achieve a return on capital over the long term which averages somewhat higher than that of American industry generally — while utilizing sound accounting and debt policies.”

“In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.”

“There's a whole bunch of things I don't know a thing about — I just stay away from those. So, I stay within what I call my circle of competence.”

“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.”

“Love is the greatest advantage a parent can give.”

“We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.”

“Size seems to make many organizations slow-thinking, resistant to change and smug.”

“The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it. In stating this opinion, we define risk, using dictionary terms, as "the possibility of loss or injury."”

“People will always try to stop you doing the right thing if it is unconventional.”

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

“When returns on capital are ordinary, an earn-more-by-putting-up-more record is no great managerial achievement. You can get the same result personally while operating from your rocking chair. Just quadruple the capital you commit to a savings account and you will quadruple your earnings. You would hardly expect hosannas for that particular accomplishment. Yet, retirement announcements regularly sing the praises of CEOs who have, say, quadrupled earnings of their widget company during their reign — with no one examining whether this gain was attributable simply to many years of retained earnings and the workings of compound interest.”

“I'll tell you why I like the cigarette business. … It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty.”

“I've reluctantly discarded the notion of my continuing to manage the portfolio after my death — abandoning my hope to give new meaning to the term "thinking outside the box."”

“Buy a business, don’t rent stocks.”

“More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day.
Millions of people who regularly contribute to churches, schools, and other organizations thereby relinquish the use of funds that would otherwise benefit their own families. The dollars these people drop into a collection plate or give to United Way mean forgone movies, dinners out, or other personal pleasures. In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge.
Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including — I’m proud to say — my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money.”

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”

“You're dealing with a lot of silly people in the marketplace; it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be O.K.”

“Never bet against the United States of America”

“The greater the potential for reward in the value portfolio, the less risk there is.”

“I'm convinced that there is much inefficiency in the market.”