Warren Buffett’s life quotes are inspirational. His wisdom shines through with powerful words like “If you find yourself in a hole, stop digging” and “Tell me your heroes, and I’ll tell you how you turn out.”
Embark on a captivating journey as we delve into the invaluable life lessons imparted by the legendary Oracle of Omaha.
Warren Buffett stands as not just one of the most exceptional investors in history but also as a captivating figure with his delightfully down-to-earth and uncomplicated outlook on life, endearing countless fans and investors alike.
Warren Buffett’s Best Quotes on Life
- “If you are stuck in a hole, stop digging.”
- “You can’t make a good deal with a bad person.”
- “Tell me your heroes, and I’ll tell you how you turn out.”
- “Chains of habit are too light to be felt until they are too heavy to be broken.”
- “If you cannot control your emotions, you cannot control your money.”
- “Without passion, you don’t have energy. Without energy, you have nothing.”
- “If you are in a poker game and after 20 minutes, you don’t know who the patsy is, you’re the patsy.”
- “If you don’t find a way to make money while you sleep, you will work until you die.”
- “Those who know the edge of their own competency are safe, and those who don’t aren’t.”
- “It is impossible to unsign a contract, so do all your thinking before you sign.”
Warren Buffett’s Quotes on Life Explained
“If you are stuck in a hole, stop digging.”
It would be best to stop when all you are doing is contributing to your problems.
“You can’t make a good deal with a bad person.”
It is important to keep in mind the character of those you are dealing with. If someone has a poor reputation, it is likely that they will not have your best interests at heart.
“The more you learn, the more you earn.”
This proverb emphasizes the importance of investing time and effort into learning new things, which will benefit you in the long run.
“Tell me your heroes, and I’ll tell you how you turn out.”
This saying suggests that the people you admire have a great influence on who you become. Surrounding yourself with inspiring and successful people will help to inspire and motivate you to reach your goals.
“Chains of habit are too light to be felt until they are too heavy to be broken.”
This quote is incredibly philosophical, referring to everything from addiction to drugs and alcohol to the things we do every day.
“There seems to be some perverse human characteristic that likes to make easy things difficult.”
Never a truer word said; from investing to trading and our technology, things can get very complicated quickly. Products add features and benefits to separate themselves from the competition but often complicate simple things.
“The difference between successful people and really successful people is that successful people say no to almost everything.”
Buffett gets pitched on investing opportunities almost daily, but if they do not meet his investing criteria, he will usually say no. This he attributes to his immense success.
“It is not necessary to do extraordinary things to get extraordinary results.”
A self-deprecating Buffett always maintains that who he is and what he does is not particularly special, just common sense.
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
This refers to the fact we are all sitting on the shoulders of giants, and we all benefit from the hard work and foresight of our ancestors who went before us.
“Only when you combine sound intellect with emotional discipline do you get rational behavior.”
“If you cannot control your emotions, you cannot control your money.”
Referring to the emotional and logical balance required in good decision-making, Buffett makes a serious statement about approaching all decisions, not just investing.
“Without passion, you don’t have energy. Without energy, you have nothing.”
Set goals that make you passionate; you will be motivated if you are passionate about what you do. That motivation will give you the energy to keep going. Buffett is in his mid-80s and will never retire due to his energy and passion.
“If history was all that is needed to play the game of money, the richest people would be librarians.”
Referring to stock chart analysis, Buffett explains that the history of a stock price is no indicator of future performance. The key to investing is understanding and discovering a valuable business at a great price.
“If you are in a poker game and after 20 minutes, you don’t know who the patsy is, you’re the patsy.”
I love this quote and use it all the time, but it is really saying that you should look at others’ motivations; if you do not understand who will lose on a deal, it is probably you.
“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely more productive than energy devoted to patching leaks.”
Buffett shares a pearl of wisdom regarding seeing problems for what they are. Here, the problem is larger than most people would understand; you need to see the big picture problem and be prepared to make drastic changes.
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you’ll drift in that direction.”
These quotes share the insight that Buffett attributes his financial success to his mentor, the great Ben Graham, the author of the original work on value investing, “The Intelligent Investor.” If you choose the right mentor or hero, you will follow them.
“Can you explain to a fish what it’s like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has the same value.”
This means that talk is cheap; you must do it if you want to gain insight and experience.
“If you don’t find a way to make money while you sleep, you will work until you die.”
This means getting your money working for you and not working for your money. You must make investments that will pay you back regularly, such as dividend investing for regular income.
“Those who know the edge of their own competency are safe, and those who don’t aren’t.”
This means you should try to understand what you are good at and are not. We, humans, overestimate our real abilities most of the time. Do this while investing, and you will likely lose money through incompetence.
“I want to give my kids just enough, so they would feel that they could do anything, but not so much that they would feel like doing nothing.”
Many articles have been written on Buffett’s inheritance plans for his family. Still, ultimately, the fortune will not go to them as he will be giving the majority to charitable causes like the Bill and Melinda Gates Foundation.
“It is impossible to unsign a contract, so do all your thinking before you sign.”
This is clearly about doing your due diligence, whether you invest in the market, buying a house, or even getting married. Do the research and make the right decision.
[Related Post: 137 of the Very Best Warren Buffett Quotes]