Warren Buffett, known to many as the Oracle of Omaha, is considered one of the world's greatest investors.
His financial success means that his words of wisdom, or Buffettisms, are treasured by many as elixirs of truth. Here's a selection:
Warren Buffett has built up a fortune estmated at $40bn
• Rule No.1: Never lose money.
Rule No.2: Never forget rule No.1
• Be fearful when others are greedy.
Be greedy when others are fearful
• It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price
• Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down
• Price is what you pay. Value is what you get
• It takes a lifetime to build a reputation and five minutes to ruin it
Gates: Buffett is 'unique leader'
• Cash combined with courage in a crisis is priceless
• Never invest in a business you cannot understand
• Only buy something that you'd be perfectly happy to hold if the market shut down for ten years
• Someone is sitting in the shade today because someone planted a tree a long time ago
• Risk comes from not knowing what you're doing
• If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes
Susie Buffett on being Warren's daughter
• If a business does well, the stock eventually follows
• I wouldn't mind going to jail if I had three cellmates who played bridge
• The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable
• Come to Omaha - the cradle of capitalism - in May and enjoy yourself.
The World's Greatest Money Maker: Evan Davis meets Warren Buffett, broadcast 2100 Monday 26 October and 2320BST Tuesday 27 October on BBC Two.