20 best quotes from Warren Buffett on his strategies, investments, and life

New Delhi: Nicknamed the Oracle of Omaha, Warren Edward Buffett, is considered to be one of the best investors of all time. Warren Buffett has been known for his savvy investing strategies since the 1950s. Over the years Buffett has continued to see values in unrecognized stocks which has led to increase his net worth by billions of dollars and thus creating tremendous value for his shareholders.As chairman of Berkshire Hathaway, a multinational conglomerate, he has steered the company through a variety of upsets and economic crises. Buffett was an important player during the 2008 financial crisis that threatened to take down some of the most important investment houses in the country. His $5 billion loan to Goldman Sachs (GS), along with the taxpayer bailout, helped to keep the company above water while the financial reset was accomplished.Here are twenty awesome quotes from the man himself. I find these quotes to be really inspiring especially when you really need help in times of economic stress. I hope that these can remind everyone that we need to do the basics right and be a consistent net saver."Rule No. 1: never lose money; rule No. 2: don't forget rule No. 1""Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful." "The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities ¾ that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future ¾ will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands." "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.""The stock market is a no-called-strike game. You don't have to swing at everything--you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, 'Swing, you bum!'" "Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway.""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." "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." "Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac's talents didn't extend to investing: He lost a bundle in the South Sea Bubble, explaining later, “I can calculate the movement of the stars, but not the madness of men.” If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases.""After all, you only find out who is swimming naked when the tide goes out."When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.""Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like.""Time is the friend of the wonderful business, the enemy of the mediocre.""The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.""I have pledged – to you, the rating agencies and myself – to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.""I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will." "Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.""I am a better investor because I am a businessman, and a better businessman because I am no investor." “Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.”“The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.”“You only have to do a very few things right in your life so long as you don't do too many things wrong.”“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”