In 1969, Warren Buffett told shareholders, “Opportunities for investment…have virtually disappeared.” The market later collapsed, and by 1974, he declared, “Now is the time to invest and get rich.” He also sold stocks before the 1987 crash and urged buying during the 2008 financial crisis. This has earned him the title, the “Oracle of Omaha.” Surprisingly, he does not consider these predictions to be the secret to his success.
Buffett became one of the world’s wealthiest by investing in companies with steady cash flow, such as Geico, Coca-Cola, Duracell, Chevron, See’s Candies, and Kraft Heinz. He’s known for waiting patiently for great prices on quality companies. He has described his ideal holding period as “forever.”
During the 2008 crisis, a nervous executive asked if Berkshire Hathaway would honor a deal. Buffett replied, “Even if Ben Bernanke runs off to South America with Paris Hilton,” the check for Wrigley would clear.¹ A deal was a deal.
In 2009, a friend asked how we would ever recover from the economic devastation. Buffett simply noted that Snickers was the top-selling candy bar in the 1960s and still was in 2009. The message: life and the economy go on.²
As Buffett prepares to retire at the end of 2025, we’re deeply grateful for the wisdom he has shared.
Some of our favorite Warren Buffett quotes:
“Every saint has a past. Every sinner has a future.”
“Someone is sitting in the shade today because someone planted a tree a long time ago.”
“Never ask a barber if you need a haircut.”
“Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you.”
“A public-opinion poll is no substitute for thought.”
“We lay out our money now to get more money back in the future.”
“Chains of habit are too light to be felt until they are too heavy to be broken.”
“We don’t have to be smarter than the rest. We have to be more disciplined than the rest.”
“It takes 20 years to build a reputation and 5 minutes to ruin it.”
“Gold gets dug out of the ground. Then we melt it down, dig another hole, bury it again, and pay people to stand around guarding it.”
“Be fearful when others are greedy and be greedy when others are fearful.”
“Predicting rain doesn’t count. Building arks does.”
- Jeff Matthews, Pilgrimage to Warren Buffett’s Omaha, McGraw Hill, 2009.
- Morgan Housel, Same as Ever, Penguin Random House LLC, 2023.
Listen to a deep dive into Warren Buffett’s legacy on the Power Up Wealth podcast.
