Warren Buffett's 7 gems on long-term investing: 'Favourite holding period is forever'

Warren Buffett is one of the richest men in the world and CEO of Berkshire Hathaway.

Warren Buffett, one of the most successful investors of all time, has shared numerous pieces of wisdom about the power of long-term investing. The investing legend, who turned 93 in August, maintains that people should invest in companies that they understand and whose stocks they believe will provide long-term value.

The “Oracle of Omaha”, as the Berkshire Hathaway CEO is called, believes in investing in solid companies and holding onto them for the long haul, capitalising on their growth over time.

Benchmark equity indices continued their downward trend for the sixth consecutive session on October 26. This decline was in response to the global weakness in equities, which was driven by concerns regarding US Treasury yields and the ongoing conflict in the Middle East. The market sell-off has evoked a sense of panic among investors. The festival season on Dalal Street has brought no cause for celebration for equity investors. It has, instead, seen the Street joining the global market selloff. The market capitalisation of all the listed companies on the BSE saw a significant drop of approximately Rs 5.78 lakh crore, bringing it down to Rs 303.44 lakh crore.

Here are 7 quotes over the years by Warren Buffett on long-term investments:

• “Our favourite holding period is forever.”
• "The stock market is a device for transferring money from the impatient to the patient."
• “Nobody buys a farm based on whether they think it’s going to rain next year."
• “The stock market is designed to transfer money from the Active to the Patient.”
• “Someone is sitting in the shade today because someone planted a tree long time ago.”
• “No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.”
• "Be fearful when others are greedy and be greedy when others are fearful."