It’s hard to underestimate Warren Buffett’s impact on the economy or corporate America — or wealthAbout this question. The magazine is just a few months older than the Oracle of Omaha himself, who turned 93 on Aug. 30, and after a particularly impressive interview, he Tap former wealth Edited by Carol Loomis Edited his annual Berkshire Hathaway shareholder letter.

The investing legend, along with his right-hand man Charlie Munger, led Berkshire Hathaway, one of the world’s most profitable holding companies, for nearly 60 years, becoming the world’s richest in the process one of the people. Buffett went from a keen student of entrepreneurship (he once sold chewing gum and Coca-Cola door-to-door) to investment salesman, stockbroker, securities analyst, and even a student in Dale Carnegie’s public speaking class.

But along the way, he became known for his sometimes gracious and insightful quotes. After all, he didn’t earn the nickname “The Saint of Omaha” for nothing. Take one of his most famous quotes: “Only when the tide goes out do you find out who’s been swimming naked.” It sums up the financial wisdom of the dawn of the modern age, as market bubbles take shape, and, to paraphrase the old saying, fools will pour in. Think of the crypto winter of 2022, the long-term goal of Buffett and (more commonly) Munger. The massive crash happened as the cryptocurrency market cap shrunk from $3 trillion to just over $1 trillion in just a few months.

Buffett took control of what was then a textile manufacturing company, Berkshire Hathaway, in 1970 and propelled it to No. 7 on the Fortune 500 list (14th globally), with revenues of just over $302 billion. As for his net worth, thanks to his decades of savvy investing, it stands at around $118 billion at press time.

While many hopeful investors and business tycoons took the Nebraskan man’s words as truth, wealth Brings together some of the wisest wisdom and quotes from the oracle over the years.

About investment:

“The first rule of investing is not to lose (money). The second rule of investing is not to forget the first rule. That’s all there is to it.”

“Price is what you pay. Value is what you get.”

“Remember, the stock market is a manic-depressive market.”

“Beware of investing events that elicit applause; great moves often elicit yawns.”

“Risk comes from not knowing what you’re doing. Never invest in a business you don’t understand.”

“Someone is sitting in the shade today because someone planted a tree a long time ago.”

“There’s nothing wrong with being a ‘know-nothing’ investor and being aware of it. The problem is when you’re a ‘know-nothing’ investor, you think you know something.”

“A simple rule governs my purchases: Be fearful when others are greedy, and be greedy when others are fearful.”

On life and relationships:

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

“If you find yourself on a boat that is chronically leaking, the energy spent replacing the boat may be more productive than fixing the leak.”

“By far the best investment you can make is in yourself.”

“Being given unconditional love is the greatest gift you can have.”

“If the company loses money, I will understand. If the company’s reputation is damaged, I will show no mercy.”

“What we’ve learned from history is that people don’t learn from history.”

“Among the billionaires I know, money only defines them. If they were jerks before they had money, they were jerks when they had a billion dollars.”

“You only need to do a few things in your life as long as you don’t do too many wrong things.”

“Time is the friend of great companies and the enemy of mediocre companies.”

“You want to hang out with people who you want to be. You’re going to go in that direction. By far the most important person in this regard is your spouse. Marry the right person. I’m serious about this. It will Make a (bigger) change in your life. It’s going to change your aspirations and everything.”

“If you get to my age and no one looks after you, I don’t care how big your bank balance is, your life is a disaster.”

On poker – and going to jail:

“Bridge is such a sensational game that I don’t mind going to jail if I have three cellmates who are all decent players and are willing to play twenty-four hours a day.”

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