Warren Buffett, one of the richest billionaires in the world, has come up with some interesting quotations, well worth reading and remembering. Although he doesn't make as much money as Indra Nooyi, head of Pepsi (PEP), in terms of salary, he makes a ton of money for his investors in Berkshire Hathaway (BRK-A) company.
By the way, did you know that you could have had lunch with Warren Buffett? It would have only cost you $2 million through an eBay (EBAY) charity auction.
Here are a few great gems from this famous billionaire investor:
"Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac's talents didn't extend to investing: He lost a bundle in the South Sea Bubble, explaining later, 'I can calculate the movement of the stars, but not the madness of men.' If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases."
"[The perfect amount of money to leave children is] enough money so that they would feel they could do anything, but not so much that they could do nothing."
"If you're in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent."
"[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
"Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful."