The first rule is not to lose. The second rule is not to forget the first rule.
More Quotes from Warren Buffett:It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
There are 309 million people out there that are trying to improve their lot in life. And we've got a system that allows them to do it.
Two rules 1. Preserve the principal 2. When in doubt see Rule 1.
Time is the friend of the wonderful company, the enemy of the mediocre.
The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
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I was feeling real good and real manly. Until a real cowboy walked by and told me I had my hat on backwards. So much for my career as a cowboy.
Children are so used to seeing puppets that when they see a real ventriloquist they don't understand it.