By Saurav Pandey | July 24, 2025

10 Warren Buffett Quotes from His  Columbia University Speech

“The secret to investing is to figure out the value of something—and then pay a lot less.”

Buffett emphasizes the “margin of safety”—buying stocks at a significant discount to their intrinsic value to minimize risk.

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“The market is there to serve you, not to instruct you.”

Market prices are often irrational; investors should exploit volatility rather than follow it blindly.

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“If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.”

Investing requires a long-term mindset. Short-term speculation is gambling, not investing.

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“Know your edge and stick to it. The size of your circle isn’t important, but knowing its boundaries is vital.”

Stay within your “circle of competence”—only invest in businesses you truly understand.

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“Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ. Temperament matters more.”

Success hinges on discipline, patience, and emotional control, not just intelligence.

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“You don’t need to buy things you don’t understand to get rich. There’s always something you can understand.”

Avoid complex investments; simplicity and clarity lead to better decisions.

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“The stock market is a device for transferring money from the impatient to the patient.”

Wealth accumulates slowly. Those who chase quick gains often lose to those who wait.

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“Risk comes from not knowing what you’re doing.”

True risk isn’t volatility—it’s ignorance. Understand a business thoroughly before investing.

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“Diversification is protection against ignorance. It makes little sense if you know what you’re doing.”

Over-diversification dilutes returns. Concentrate on your best ideas (but don’t bet everything on one stock).

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“My wealth has come from a combination of living in America, some lucky genes, and compound interest.”

Buffett credits his success to opportunity, longevity, and the exponential power of compounding.

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