Quotes about Debt that will Make You Think or even Laugh

 Quotes about Debt that will Make You Think or even Laugh

Large Debt

I love reading quotes. In fact, with too many quotes I’ve been gathered. TagalogQuotes website was born.

A passionate quote can provoke thought, encourage laughter, or inspire thousands into action. So I’ll going to share with you a quote about debt that will make you think and laugh. If you find this resource valuable, please consider sharing it with your friends!  I’d like as many people as possible to be able to use this in the future.

So True...

“Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”
-Ogden Nash

“Good times are when people make debts to pay in bad times.”
-Robert Quinlin

What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?”
-Adam Smith

“It is the debtor that is ruined by hard times.”
-Rutherford B. Hayes

“We all think we’re going to get out of debt.”
-Louie Anderson

“The man who never has money enough to pay his debts has too much of something else.”
-James Lendall Basford

“I’m in debt. I am a true American.”
-Balki Bartokomous

Proverbs, Sayings, and Unknown

“He who promises runs in debt.”
-The Talmud

“It is poor judgment to countersign another’s note, to become responsible for his debts.”
-Bible

“Debts are like children: the smaller they are the more noise they make.”
-Spanish Proverb

“Interest on debts grow without rain.”
-Yiddish Proverb

“There are four things every person has more of than they know; sins, debt, years, and foes.”
-Persian Proverb

“The only man who sticks closer to you in adversity than a friend is a creditor.”
-Unknown

“Before borrowing money from a friend, decide which you need most.”
-American Proverb

“In God we trust; all others must pay cash.”
-American Proverb

“Promises make debt, and debt makes promises.”
-Dutch Proverb

“Christmas is the season when you buy this year’s gifts with next year’s money.”
-Unknown

“A hundred wagon loads of thoughts will not pay a single ounce of debt.”
-Italian Proverb

“Running into debt isn’t so bad. It’s running into creditors that hurt.”
-Unknown

“A church debt is the devil’s salary.”
-Henry Ward Beecher

“The borrower is servant to the lender.”
-The Bible

Benjamin Franklin (and other dudes like him)

“Rather go to bed supperless, than rise in debt.”
-Benjamin Franklin

“When you get in debt you become a slave.”
-Andrew Jackson

“Tis against some men’s principle to pay interest, and seems against others interest to pay the principle.”
-Benjamin Franklin

“The second vice is lying; the first is running in debt.”
-Benjamin Franklin

“Never spend your money before you have it.”
-Thomas Jefferson

“Lying rides upon debt’s back.”
-Benjamin Franklin

“I say to you never involve yourself in debt, and become no man’s surety.”
-Andrew Jackson

“Creditors have better memories than debtors.”
-Benjamin Franklin

“Buy what thou hast no Need of and ere long thou shalt sell thy Necessaries.”
-Benjamin Franklin

“Live within your means; never be in debt, and by husbanding your money you can always lay it out well.”
-Andrew Jackson

“Those have a short Lent, who owe money to be paid at Easter.”
-Benjamin Franklin

Funny… well, some of them at least…

“If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours.”
-John Maynard Keynes

“If you think nobody cares if you’re alive, try missing a couple of car payments.”
-Earl Wilson

“This would be a much better world if more married couples were as deeply in love as they are in debt.”
-Earl Wilson

“When a man is in love or in debt, someone else has the advantage.”
-Bill Balance

“Debt, n.  An ingenious substitute for the chain and whip of the slavedriver.”
-Ambrose Bierce

“No man’s credit is as good as his money.”
-E.W. Howe

“Today, there are three kinds of people: the haves, the have-not’s, and the have-not-paid-for-what-they-have’s.”
-Earl Wilson

“Forgetfulness. A gift of God bestowed upon debtors in compensation for their destitution of conscience.”
-Ambrose Bierce

“Some people use one half their ingenuity to get into debt, and the other half to avoid paying it.”
-George Prentice

“A man who pays his bills on time is soon forgotten.”
-Oscar Wilde

“I like my players to be married and in debt. That’s the way you motivate them.”
-Ernie Banks

“Ten million dollars after I’d become a star I was deeply in debt.”
-Sammy Davis, Jr.

Heavy Debt

Writer’s writers

“A man in debt is so far a slave.”
-Ralph Waldo Emerson

“He that dies pays all debts.”
-William Shakespeare

“Debts are nowadays like children begot with pleasure, but brought forth in pain.”
-Moliere

“Wouldst thou shut up the avenues of ill, Pay every debt as if God wrote the bill.”
-Ralph Waldo Emerson

“Neither a borrower nor a lender be; for loan doth oft lose both itself and friend.”
-William Shakespeare

“Debts and lies are generally mixed together.”
-Francois Rabelais

“There are but two ways of paying debt: Increase of industry in raising income, increase of thrift in laying out.”
-Thomas Carlyle

“Poets, like friends to whom you are in debt, you hate.”
-William Wycherley

“He looks the whole world in the face for he owes not any man.”
-Henry Wadsworth Longfellow

“Who goeth a borrowing. Goeth a sorrowing.”
-Thomas Tusser

“Debt is the worst poverty.”
-Thomas Fuller

“Speak not of my debts unless you mean to pay them.”
-George Herbert

“Youth is in danger until it learns to look upon debts as furies.”
-Edward G. Bulwer-Lytton

“Small debts are like small shot; they are rattling on every side, and can scarcely be escaped without a wound.”
-Samuel Johnson

“Do not accustom yourself to consider debt only as an inconvenience; you will find it a calamity.”
-Samuel Johnson

Government, Politics, and other boring topics

“Blessed are the young, for they shall inherit the national debt.”
-Herbert Hoover

“I found this national debt, doubled, wrapped in a big bow waiting for me as I stepped into the Oval Office.”
-Barack Obama

“A liberal is someone who feels a great debt to his fellow man; a debt he proposes to pay off with your money.”
-Gordon Liddy

“I go on the principle that a public debt is a public curse.”
-James Madison

“A billion here, a billion there, sooner or later it adds up to real money.”
-Everett Dirksen

“You cannot spend your way out of recession or borrow your way out of debt.”
-Daniel Hannan

“Debt is a prolific mother of folly and of crime.”
-Benjamin Disraeli

“Simply put, unsustainable debt is helping to keep too many poor countries and poor people in poverty.”
-Bill Clinton

Modern ‘Gurus’

“Debt is dumb. Cash is king.”
-Dave Ramsey

“Debt can turn a free, happy person into a bitter human being.”
-Michael Mihalik

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

“If you’re thinking of debt, that’s what you’re going to attract.”
-Bob Proctor

“Debt is normal. Be weird.”
-Dave Ramsey

“If you have debt I’m willing to bet that general clutter is a problem for you too.”
-Suze Orman

Kickin’ it Old School

“Debt is the slavery of the free.”
-Publilius Syrus

“A small debt produces a debtor; a large one, an enemy.”
-Publilius Syrus

“Crito, I owe a cock to Asclepius; will you remember to pay the debt?”
-Socrates

“It shows nobility to be willing to increase your debt to a man to whom you already owe much.”
-Cicero

“It is thrifty to prepare today for the wants of tomorrow.”
-Aesop

Hard to categorize quotes…

“It takes as much imagination to create debt as to create income.”
-Leonard Orr

“A habit of debt is very injurious to the memory.”
-Austin O’Malley

“In the long run we shall have to pay our debts at a time that may be very inconvenient for our survival.”
-Norbert Wiener

“The impulse dances inside the debt.”
-Jareb Teague

“A mortgage casts a shadow on the sunniest field.”
-Robert Green Ingersoll

“One of the greatest disservices you can do a man is to lend him money that he can’t pay back.”
-Jesse Jones

“Debt is like any other trap, easy enough to get into, but hard enough to get out of.”
-Henry Wheeler Shaw

“Many delight more in giving of presents than in paying their debts.”
-Sir Philip Sidney

“Wars in old times were made to get slaves. The modern implement of imposing slavery is debt.”
-Ezra Pound

“Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt.”
-Henrik Ibsen

“Debt is the secret foe of thrift, as vice and idleness are its open enemies.”
-James H. Aughey

“Worrying is like paying on a debt that may never come due.”
-Will Rogers

“One can pay back the loan of gold, but one lies forever in debt to those who are kind.”
-Malcolm Forbes

Which quote is your personal favorite?  Is there any great quote on debt that I forgot to include (I’ll add it)?  Let me know in the comments below!

5 Success Myths That Block Success

5 Success Myths That Block Success

Article from TrulyRichClub..

Success Strategy idea

I realized that the biggest blocks to success aren’t physical but mental. What prevents many people from succeeding are their wrong ideas in their minds about success. I listed below the 5 Myths to Success.

Check if you have any of them—and start sweeping them out of your mind right now. They’re demons that need to be exorcised.

Myth 1: I’m Not Successful Because I Haven’t Unlocked the Profound Mystery Yet…

Last Saturday, after my seminar, a young man talked to me. He said, “Brother Bo, I’m 19 years old. I want to be successful like you. Can you tell me how?” I admired his question and I told him what I could tell him in the 30 seconds we could talk.

But then it dawned on me—Do people think that success is so mysterious, it’s a well-kept secret by the ultra successful? Perhaps some people think that success is like an esoteric code handed down by aliens in Atlantis City some 3000 years ago, only to be discovered if Indiana Jones finds that code—written in papyrus hidden in a golden urn guarded by cobras and poison darts.

But it’s not. Success is a simple pattern, just like math. One plus one equals two. Always. You become successful if you do certain very obvious and simple activities over and over again. Like having an alignment with your passion, potential, and position. Plus getting a mentor. And having an I-will-never give-up attitude. And follow through. And…. Oh, you get my point.

These past few years, I’ve been privileged to meet and talk to wildly successful individuals. I have coffee with them, eat lunches with them, take vacations with them, and do business with them. If there’s anything super about them, it’s the fact that there’s nothing super about them. They’re not supernatural beings.

They’re not gifted with mutant powers. They’re not angels. They make the same mistakes we all make. They failed in school. They failed in business. They failed in their relationships. And hanging out with them makes you realize, “My gosh, if they can do it, I can do it too!”

Myth 2: I’m Not Successful Because I’m Just Not Lucky

Yes, there’s luck involved. Except I call it a bit differently. I call it blessing. But I’ve realized that there’s a direct link between labor and luck. They’re directly proportional to each other: The more labor you give, the more luck you receive! This reechoes what Seneca, a 1st century Roman philosopher, said: “Luck is what happens when preparation meets opportunity.”

I’ve noticed this as a common theme among successful people—that their success was a happy diversion from what they originally wanted to do. But because they were working hard for that original project, they saw this second project—and that’s what becomes gigantic. Ray Kroc didn’t start McDonalds. And he never thought he was going to be in the burger business. He was actually selling a milkshake mixer to restaurants, and that was how he met the McDonald brothers. But in their bustling restaurant, he saw a massive opportunity to multiply that restaurant all over the country.

My friend WealthCircle Mentor Ronnie started a new business. He’s now selling CFL light bulbs by the millions. But how did he get into this? It wasn’t his original idea. He started selling electric meters to electric utility companies. But one day, while standing on the balcony of his condo, holding a wine glass, gazing upon the Bo’s Wealth TIPS magnificent lights of the city—he had a light bulb moment (figurately and literally).

He realized that he could only supply one electric meter per house, but he could supply many light bulbs per house! Kaching kaching. All of a sudden, he saw money. And today, the river of money flows into his business. Ray Kroc and Ronnie saw the opportunity because they were prepared to see it.

I always hear many people tell me, “Bo, how can you be so lucky?” They enumerate my achievements—the books I wrote, the organizations I created, the stuff I did… But people don’t see all the YEARS of preparation that brought me to where I am now. I love saying this: You’re surrounded by an ocean of blessings. There is no shortage of blessings. There’s only a shortage of readiness to receive those blessings.

Myth 3: I’m Not Successful Because I’m Waiting for My Big Break…

Success is not an event. Success is a journey—a very long journey via a circuitous path through hills and valleys. Mostly valleys! I looked at my life and reflected on my success ratio. I found it very interesting that for every 10 product ideas I launched, I fail (disastrously) seven times, mildly succeed in two, and succeed phenomenally in one.

But those three wins are enough to pay for my seven failures—and much, much more. I repeat: Success is a journey. Many people think that success happens when you write a book, or when you build a company, or when you get an award, or when you earn a million. Nope.

For example, while you’re writing your first book, you should already be thinking of your second book—or seminar, or workshop, or conference, or coaching program, or membership club. And while you’re preparing to launch your first product, you should already be tinkering with your second, third, and fourth product. 

Don’t depend on the one big break to make you successful. You need to plan a never-ending series of big breaks. 

Myth 4: I’m Not Successful Because I Don’t Know Anybody…

Heard this before? “I don’t know anybody…” “I don’t know anybody” is an all-around, all-season, multi-purpose excuse you can use anywhere. From not getting a job, to not getting a sale, to not getting a promotion, to not getting a business launched, to not getting a seat in a restaurant.

The excuse is a half-truth. I agree that knowing someone is important, especially decision makers, teachers, regulators, etc. But if you don’t know anyone, what should you do? Get to know someone.

For example, people keep telling me, “Bo, I don’t have a business mentor. How do you get one?” So I ask, “Do you attend our business seminars? Our Entrepreneur Workshops with Dean Pax? Do you attend your annual industry conferences?”

Investment success

Ninety percent of the time, people will say, “No.” When I ask why, they answer, “Because I can’t afford them…” Ah, there lies the giant, monstrous, hideous mistake. You can’t afford NOT to attend these seminars and workshops and events. People think that all they get from these events is wisdom. Wrong. That’s only half the benefit. In these events, you get to know a lot of people.

You get to know your mentors personally. You get to know other participants who are in the same journey. If you keep attending these events on a regular basis, you’ll enlarge your network and know a lot of somebodies. Go out. Love people!

Myth 5: I’m Not Successful Because I Don’t Have Enough Money to Expand Fast Enough 

I hear this from new entrepreneurs a lot. They say, “Bo, I wish I had huge capital for my business… That way, I can really expand like crazy…”

No, you don’t want to expand like crazy. Just do it steadily, one store at a time, one distribution channel at a time. If your money runs out, don’t borrow at high prices just to expand again. You’ll die young. Learn along the way. Take it easy. Skip and dance. Whistle your way to work. Hum a tune and enjoy the journey.

All my business mentors are very deliberate about growth. And they are never in a hurry. One of our WealthCircle mentors, Junie, builds roads and bridges in the provinces. Last January, he told us he wanted to build his own asphalt plant.

It’s September now and he hasn’t bought a single machine for the plant. That means for nine solid months, he’s been researching, flying to China, Japan, and Singapore, looking for the best machines for his plant. That’s the mature businessman. He takes his time. He’s extra careful. Meticulously, he’s looking at every angle. He’s thorough. Once he makes his decision, he’ll plunk down millions.

Yes, there are mature businessmen and there are immature businessmen. The other day, I heard about a businessman who sold his business for 10 million pesos. When he got the 10 million, he started investing in other businesses—usually run by his friends—and in five years—all his money has flown away. He said, “It would have been the same if I just got all that money and threw it in a garbage can—and burned it in a big bonfire.”

I repeat: He was already an entrepreneur. But he still made dumb decisions. Why? Clearly, he wasn’t a mature businessman. He was impulsive. He didn’t have mentors. At that point, he needed a wise mentor who could have guided him in handling his 10 million.

If you don’t have money now, that may be the best thing for your business right now. You’ll be hungrier. And it will make you grow organically. Let me warn you: The very worst thing that can happen to people who don’t know how to make money is to have lots of money at their disposal. That is a disaster waiting to happen.

If you don’t know how to make money—and your father, or stepmom, or best friend, or long-distant auntie who died without a descendent, gives you lots of money—get ready to LOSE IT. You’ll be making wrong decisions.

Be wise! 

Get Rid of These Myths 

There are many more myths, but I found these five myths to be the most insidious. Get rid of them, and success will be nearer than you think.

Here are the 5 Success Truths I shared with you today: 

*Truth 1: Success is about following a simple pattern, not a mystery; 

*Truth 2: Success is about preparation, not luck; 

*Truth 3: Success is a journey, not an event; 

*Truth 4: Success is about deliberately building a network and loving people, not resigning oneself to not knowing anyone; 

*Truth 5: Success is enjoying the journey and growing organically, never growing in a hurry.

May your dreams come true, 

Bo Sanchez 

PS. By the way, the TrulyRichClub isn’t just about Stock Market investing. That’s only one part. In the TrulyRichClub, aside from teaching people how to grow in their financial life, I also teach people how to grow in their spiritual life. 

For what’s the use of growing in your finances if you lose your soul? 

To know more about the TrulyRichClub, click the link below: 

Yes Bo, teach me how to grow my money!  
Tell me more about the TrulyRichClub

Warren Buffet 10 ways to get rich

Warren Buffet 10 ways to get rich

Here are some of Warren Buffett's money-making secrets -- and how they could work for you.

Warren Buffet 10 ways to get rich

1. Reinvest Your Profits: When you first make money in the stock market, you may be tempted to spend it. Don't. Instead, reinvest the profits. Warren Buffett learned this early on. In high school, he and a pal bought a pinball machine to put in a barbershop. With the money they earned, they bought more machines until they had eight in different shops.

When the friends sold the venture, Warren Buffett used the proceeds to buy stocks and to start another small business. By age 26, he'd amassed $174,000 -- or $1.4 million in today's money. Even a small sum can turn into great wealth.

2. Be Willing To Be Different: Don't base your decisions upon what everyone is saying or doing. When Warren Buffett began managing money in 1956 with $100,000 cobbled together from a handful of investors, he was dubbed an oddball. He worked in Omaha, not Wall Street, and he refused to tell his parents where he was putting their money. People predicted that he'd fail, but when he closed his partnership 14 years later, it was worth more than $100 million.

Instead of following the crowd, he looked for undervalued investments and ended up vastly beating the market average every single year. To Warren Buffett, the average is just that -- what everybody else is doing. to be above average, you need to measure yourself by what he calls the Inner Scorecard, judging yourself by your own standards and not the world's.

3. Never Suck Your Thumb: Gather in advance any information you need to make a decision, and ask a friend or relative to make sure that you stick to a deadline. Warren Buffett prides himself on swiftly making up his mind and acting on it. He calls any unnecessary sitting and thinking "thumb sucking." When people offer him a business or an investment, he says, "I won't talk unless they bring me a price." He gives them an answer on the spot.

4. Spell Out The Deal Before You Start: Your bargaining leverage is always greatest before you begin a job -- that's when you have something to offer that the other party wants. Warren Buffett learned this lesson the hard way as a kid, when his grandfather Ernest hired him and a friend to dig out the family grocery store after a blizzard.

The boys spent five hours shoveling until they could barely straighten their frozen hands. Afterward, his grandfather gave the pair less than 90 cents to split. Warren Buffett was horrified that he performed such backbreaking work only to earn pennies an hour. Always nail down the specifics of a deal in advance -- even with your friends and relatives.

5. Watch Small Expenses: Warren Buffett invests in businesses run by managers who obsess over the tiniest costs. He one acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was). He also admired a friend who painted only on the side of his office building that faced the road. Exercising vigilance over every expense can make your profits -- and your paycheck -- go much further.

6. Limit What You Borrow: Living on credit cards and loans won't make you rich. Warren Buffett has never borrowed a significant amount -- not to invest, not for a mortgage. He has gotten many heart-rendering letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then, when you're debt-free, work on saving some money that you can use to invest.

7. Be Persistent: With tenacity and ingenuity, you can win against a more established competitor. Warren Buffett acquired the Nebraska Furniture Mart in 1983 because he liked the way its founder, Rose Blumkin, did business.

A Russian immigrant, she built the mart from a pawnshop into the largest furniture store in North America. Her strategy was to undersell the big shots, and she was a merciless negotiator. To Warren Buffett, Rose embodied the unwavering courage that makes a winner out of an underdog.

8. Know When To Quit: Once, when Warren Buffett was a teen, he went to the racetrack. He bet on a race and lost. To recoup his funds, he bet on another race. He lost again, leaving him with close to nothing. He felt sick -- he had squandered nearly a week's earnings. Warren Buffett never repeated that mistake. Know when to walk away from a loss, and don't let anxiety fool you into trying again.

9. Assess The Risk: In 1995, the employer of Warren Buffett's son, Howie, was accused by the FBI of price-fixing. Warren Buffett advised Howie to imagine the worst-and-bast-case scenarios if he stayed with the company.

His son quickly realized that the risks of staying far outweighed any potential gains, and he quit the next day. Asking yourself "and then what?" can help you see all of the possible consequences when you're struggling to make a decision -- and can guide you to the smartest choice.

10. Know What Success Really Means: Despite his wealth, Warren Buffett does not measure success by dollars. In 2006, he pledged to give away almost his entire fortune to charities, primarily the Bill and Melinda Gates Foundation. He's adamant about not funding monuments to himself -- no Warren Buffett buildings or halls.

"I know people who have a lot of money," he says, "and they get testimonial dinners and hospital wings named after them. But the truth is that nobody in the world loves them. When you get to my age, you'll measure your success in life by how many of the people you want to have love you, actually do love you. That's the ultimate test of how you've lived your life."

Source: 

http://www.warrenbuffett.com

52 Quotes from Legendary Investor – Warren Buffett

52 Quotes from Legendary Investor – Warren Buffett

Warren Buffet

Warren Buffett is without question the most successful investor of our time. His savvy deal making abilities coupled with his creative and cheerful personality allowed him to achieve success like no other.

While searching the web for the comments he’s made through the years, I found many insightful comments that truly show off Mr. Buffett’s knowledge so I want to share 52 Quotes from him.

1. A public-opinion poll is no substitute for thought.

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

3. I always knew I was going to be rich. I don’t think I ever doubted it for a minute.

4. I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.

5. I buy expensive suits. They just look cheap on me.

6. I don’t have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It’s like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life.

And the GNP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don’t do that though. I don’t use very many of those claim checks. There’s nothing material I want very much. And I’m going to give virtually all of those claim checks to charity when my wife and I die.

7. I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.

8. 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.

9. If a business does well, the stock eventually follows.

10. If past history was all there was to the game, the richest people would be librarians.

11. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.

12. In the business world, the rear view mirror is always clearer than the windshield.

13. Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.

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

15. 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.

16. It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

17. 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.’

Warren Buffet

18. Let blockheads read what blockheads wrote.

19. Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.

20. 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

21. Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.

22. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.

23. 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.

24. Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.

25. Only when the tide goes out do you discover who’s been swimming naked.

26. Our favourite holding period is forever.

27. Price is what you pay. Value is what you get.

28. Risk comes from not knowing what you’re doing.

29. Risk is a part of God’s game, alike for men and nations.

30. Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

31. Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.

32. The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.

33. The investor of today does not profit from yesterday’s growth.

34. 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 — that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future — 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.

35. The only time to buy these is on a day with no “y” in it.

36. 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.

37. There are all kinds of businesses that Charlie and I don’t understand, but that doesn’t cause us to stay up at night. It just means we go on to the next one, and that’s what the individual investor should do.

38. There seems to be some perverse human characteristic that likes to make easy things difficult.

39. Time is the friend of the wonderful company, the enemy of the mediocre.

40. Value is what you get.

41. 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.’

42. We don’t get paid for activity, just for being right. As to how long we’ll wait, we’ll wait indefinitely.

43. We enjoy the process far more than the proceeds.

44. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

45. 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.

46. When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.

47. 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.

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

49. Wide diversification is only required when investors do not understand what they are doing.

50. 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.

51. You only have to do a very few things right in your life so long as you don’t do too many things wrong.

52. Your premium brand had better be delivering something special, or it’s not going to get the business.

His savvy deal making abilities coupled with his creative and cheerful personality allowed him to achieve stock market success like no other.  So it’s really no luck that he’s named the 3rd wealthiest man of 2012 and hope that you’ve learned something from these quotes.  Which one is your favorite?  Personally, I really like #30 – Never lose money!