March 3, 2007

The Wisdom of Warren Buffett

In the just-published letter to stockholders from Warren Buffett, these are a few of the gems of wisdom he quoted:

1. Ronald Reagan had it right: “It’s probably true that hard work never killed anyone – but why take the chance?”

2. Be fearful when others are greedy, and be greedy when others are fearful. (Warren Buffett)

3. If you want to get a reputation as a good businessman, be sure to get into a good business. (un-named friend of Warren Buffett)

4. When someone with experience proposes a deal to someone with money, too often the fellow with money ends up with the experience, and the fellow with experience ends up with the money. (Warren Buffett)