» Wisdom From Billionaire Warren Buffett The Richest AmericanSecrets for Money:Inspirational Tips For More Money, More Time, And More Fun

Forbes business and financial news magazine named Warren Buffett the new richest American in their most recent “Forbes 400 List.”* Microsoft mogul Bill Gates has fallen from the top spot as the richest American on the Forbes 400 list, which had been number 1 for 15 consecutive years. Warren Buffett now takes the lead as America’s wealthiest person.

Warren Buffett is a self-made billionaire and is one of the world’s most successful and brilliant investors.
He is also a tremendous philanthropist who, in 2006, announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation http://www.gatesfoundation.org. The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and, in the United States, to expand educational opportunities and access to information technology.
In honor of Warren Buffett, today at Secrets For Money http://www.SecretsForMoney.info I would like to share with you some of the many words of wisdom, ’secrets’ if you will, in the form of quotations from Warren Buffett.
I believe you will find his words extremely educational and inspirational to read and remember while on your road to wealth!

(1) “Chains of habit are too light to be felt until they are too heavy to be broken.”
—Warren Buffett

(2) “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
—Warren Buffett

(3) “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
—Warren Buffett

(4) “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.”
—Warren Buffett

(5) “I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.”
—Warren Buffett

(6) “Only when the tide goes out do you discover who’s been swimming naked.”
—Warren Buffett
(7) “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.”
—Warren Buffett

(8) “If a business does well, the stock eventually follows.”
—Warren Buffett

(9) “Price is what you pay. Value is what you get.”
—Warren Buffett

(10) “In the business world, the rearview mirror is always clearer than the windshield.”
—Warren Buffett

(11) “It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”
—Warren Buffett

(12) “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
—Warren Buffett

(13) “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
—Warren Buffett

(14) “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
—Warren Buffett

(15) “Never invest in a business you cannot understand.”
—Warren Buffett

(16) “Our favorite holding period is forever.”
—Warren Buffett

(17) “It is not necessary to do extraordinary things to get extraordinary results.”
—Warren Buffett

(18) “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”
—Warren Buffett

(19) “You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right.”
—Warren Buffett

(20) “If past history was all there was to the game, the richest people would be librarians.”
—Warren Buffett

(21) “Risk comes from not knowing what you’re doing.”
—Warren Buffett

(22) “Risk is a part of God’s game, alike for men and nations.”
—Warren Buffett

(23) “We enjoy the process far more than the proceeds.”
—Warren Buffett

(24) “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
—Warren Buffett

(25) “Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”
—Warren Buffett

(26) “A very rich person should leave his kids enough to do anything but not enough to do nothing.”
—Warren Buffett

(27) “The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.”
—Warren Buffett

(28) “The first rule is not to lose. The second rule is not to forget the first rule.”
—Warren Buffett

(29) “The investor of today does not profit from yesterday’s growth.”
—Warren Buffett

(30) “The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves-and the better the teacher, the better the student body.”
—Warren Buffett

(31) “There seems to be some perverse human characteristic that likes to make easy things difficult.”
—Warren Buffett

(32) “Time is the friend of the wonderful company, the enemy of the mediocre.”
—Warren Buffett

(33) “We believe that according the name ‘investors’ to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a ‘romantic.’ ”
—Warren Buffett

(34) “When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”
—Warren Buffett

(35) “Why not invest your assets in the companies you really like? As Mae West said, “Too much of a good thing can be wonderful”.
—Warren Buffett

(36) “Wide diversification is only required when investors do not understand what they are doing.”
—Warren Buffett

(37) “You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.”
—Warren Buffett

(38) “You only have to do a very few things right in your life so long as you don’t do too many things wrong.”
—Warren Buffett

(39) “Your premium brand had better be delivering something special, or it’s not going to get the business.”
—Warren Buffett

*(October 11, 2008) “Forbes 400 List” from “Forbes” business and financial news magazine

Photo Credit: Photograph “Philippine Stock Market Board” by Katrinakatrina. For more of this Photographer’s work, see http://flickr.com/photos/thewalkingirony/

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