Warren Buffett Quotes About Speculation

Quotes about: Speculation

• 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.

  Warren Buffett

  Investing Money, People, Triumph

  Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.163, John Wiley & Sons

• A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street (a community in which quality control is not prized) will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.

  Warren Buffett

  Wall, Lying, Knowledge

  Chairman's Letter, www.berkshirehathaway.com. February 28, 2001.

• The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.

  Warren Buffett

  Real, Rap, Men

• Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation

  Warren Buffett

  Should, Speculation, Higher

• Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.

  Warren Buffett

  Wise, Men, Doe

• [W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value -- in the hope that it can soon be sold for a still-higher price -- should be labeled speculation (which is neither illegal, immoral nor -- in our view -- financially fattening).

  Warren Buffett

  Thinking, Views, Investing

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