Who is Warren Buffett? Famous Phrases, Quotes and Net Worth

Who is Warren Buffett? In the world of finance, the name "Warren Buffett" has resonated for decades now. The investor, with his quotes and famous phrases, is known to most for his long-term approach to the markets, as well as for his success story.

Reading the famous phrases by Warren Buffett, one of the most famous investors ever and known by the nickname Oracle of Omaha, is a great way to find new and valid ideas for your own trading strategies and investment. If it is true that there are no absolute truths in the financial sphere, reading what Buffett declared during his now very long career can help to refine one’s techniques used to achieve investment success.

In this article, in collaboration with the experts of XTB, the editorial staff of Money.it tells the life and success story of Warren Buffett and brings back his famous phrases and most interesting quotes.

Who is Warren Buffett?

Warren Buffett is one of the most significant characters in the history of finance; he is in fifth place in the rank of the richest men in the world (March 2023), with an estimated net worth of $105.1 billion. In the past he also enjoyed first place on the podium.

Class of 1930, Warren Edward Buffett was born in Omaha (Nebraska), United States. In 1942, he moved to Washington DC after his father, Howard Buffett, was elected to Congress.

He graduated in Business administration at the Columbia Business School, the university where Benjamin Graham taught, considered the first economist to have developed the theory of value investing.
Buffett soon begins to approach the world of business; according to some testimonies, at the age of 11 he used his savings to sell drinks bought in his grandfather’s shop in his school, while at the age of 14 he bought land and then rented it to some shepherds.

However, he begins to get serious after graduating, when Graham himself calls him to work at his company. In 1955, when his former professor retired, he was offered the position of partner in Graham-Newman Corp. Buffett, however, refused, preferring to return to Ohama to live on income thanks to the accumulated savings and the income deriving from his skills as a ’investment.

Back in his hometown, he founded the Buffett Partnership, an investment fund with which he managed the savings of his friends by applying the strategies taught by Benjamin Graham over the years spent together.

Thus began his high-level financial activity, with the first acquisition in 1962 of the holdings of Berkshire Hathaway, a textile industry in decline, which he took control of a few years later. In the following years, he also acquired the National Fire and Marine Insurance Company and the National Indemnity Company, two well-known insurance companies.

The successes of his extraordinary career have earned him the nickname "Oracle of Omaha", given his prowess in the investment market. Berkshire Hathaway is now the world’s largest insurer after Swiss Re and Mucich Re.

Warren Buffett: famous phrases and quotes

In the course of his activities, Warren Buffett has dispensed a great deal of advice on the investment world that we have chosen to report in order to celebrate this extraordinary character.

“The investment must be rational. If you don’t get it, don’t do it.”
(This is one of Warren Buffett’s famous phrases, in which he recommends approaching the investment market only when you are able to be rational and have the skills to do so).

“There are older, wiser voices that can always help you find the right path, if you’re only willing to listen to them.”
(This quote from Buffett is valid both for the investment market and for everyday life. In fact, often those with more experience would have a lot to teach, but not everyone is always willing to listen. This is one of the biggest mistakes, since one’s success depends on the advice of those who have already obtained it).

• “Investing is simple, but it’s not easy”;
• “Rule n° 1: never lose money. Rule No. 2: never forget No. 1";
• “Diversification is a protection from ignorance”;
• “The risk comes from not knowing what you’re doing”;
• “Wall Street is the only place where those arriving by Rolls-Royce seek advice from those arriving by subway”;
• “Most people are interested in titles when they are trendy. The right time to get interested is when no one does. You can’t buy what’s popular and make money”;
• “The stock market is simple. It is enough to buy the shares of a large company managed by upright and capable executives for less than their intrinsic value, and then keep those shares forever”;
• “You are never right or wrong because others agree with you. You are right because your data is correct and your reasoning is correct”;
• Someone is sitting in the shade today because someone else planted a tree a long time ago”;
• “Great investment opportunities arise when excellent companies find themselves in unusual circumstances that cause their shares to depreciate”;
• “I never buy a stock I’m not sure I understand”;
• “Expecting big returns for small investments is encouraging stupid behavior”;
• “Just be afraid when others are greedy and be greedy when others are afraid”;
• “What we learn from history is that nobody learns from history”;
• “Only when the tide goes out do you find out who was swimming naked”;
• “Never invest in a company you don’t understand”.

Disclaimer: "Choosing the financial intermediary to rely on, both for your training and investments, is extremely important: choosing a regulated and globally recognized broker such as XTB allows you to access complete and free training, as well as to benefit from a high level of security thanks to the segregation of funds from those of the company and regulation by the most important financial regulatory institutions."

Original article published on Money.it Italy 2023-03-14 13:04:00. Original title: Chi è Warren Buffett? Frasi celebri, citazioni, storia di successo