Warren Buffett's 2013 annual letter to Berkshire Hathaway shareholders included six "fundamentals of investing."
Not only is Buffett the most successful investor in history. He also shares his wisdom in an approachable and entertaining manner.
We compiled a few of Buffett's best quotes from his TV appearances, newspaper op-eds, magazine interviews, and of course his annual letters.
Investing novices and experts alike can learn from the advice that the he has articulated through the years.
If we've missed any of your favorites, let us know in the comments.
Buying a stock is about more than just the price.
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
Source: Letter to shareholders, 1989
You don't have to be a genius to invest well.
"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ."
Source: Warren Buffet Speaks, via msnbc.msn
But, master the basics.
"To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices."
Source: Chairman's Letter, 1996
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