Warren Buffett Quotes

Study the situation thoroughly, go over in your imagination the various courses of action possible to you and the consequences which can and may follow from each course. Pick out the course which gives the most promise and go ahead.

My job is to provide the president with the richest possible consideration, so that he knows what is at stake in whatever decision he makes.

Making good decisions is a crucial skill at every level.

I can't ever remember being struck by lightning when making a big decision. It's always about taking in more and more data points and making tack adjustments as you figure it out. I call customers, suppliers, industry analysts and try to get as much information as possible.

I still think carefully about what I'm going to say. I use me heart and head technique, in which the heart says, 'get stuck in, Dennis!', and the head says, 'just a minute... ' But I probably don't use this as often as some others.

But making big decisions shouldn't be easy - it shouldn't be that you have an idea, and you get to execute it without anyone questioning it.

People who are great at making decisions in the face of uncertainty have great judgment.

Suppose you had a small electrical fire and... a structural engineer [looked] at your home's wiring [and] reports that the wiring is "shot" and there is a 50% chance that your house would burn down in the next few years unless you replace all the wiring. The job will cost $20,000... so you get an independent assessment. The next engineer agrees with the first warning. You can either continue to shop for additional evaluations until you find the one engineer in 1,000 that is willing to give you the answer you want, "Your family is not in danger" or you can change the wiring.

Almost everything I do when I approach an operational problem comes from the time I've been in space. It's a way of organizing your thoughts. We use problem-solving; what we call "what-if-ing." What if this happened? What would we do? We go over plan B, C, D, E, F, and whatever else, depending on the criticality of what we're doing. This kind of thing can be applied almost everywhere, even at home.

The only way to make the right decision is to find out which is the wrong decision, to examine that other path without fear, and only then decide.

A military mindset is objectively analyzing a planned course of action and anticipating the likely consequences before you take that action.

When you need to make a decision, don't let your emotions vote.

Charlie and I have a number of filters that things have to get through before we'll think about them.

You always, I think, debate with yourself about whether or not you made the right decision. And you have to then give the person that you’re working for - in my instance, the president - your best judgment based on your understanding of the facts, but also the calculus you use to make a determination about what’s the best way to go forward.

Statistical thinking will one day be as necessary for efficient citizenship as the ability to read and write!

You have to know how to accept rejection and reject acceptance.

In all cases where doubt crops up, ask yourself, "If I had a gun to my head and had to do it, how would I do it?" It's not as hard as you think.

A complex decision is like a great river, drawing from its many tributaries the innumerable premises of which it is constituted.

Misprize common sense at your peril is my motto.

Doubt wisely; in strange way To stand inquiring right, is not to stray; To sleep, or run wrong, is.

Decide...whether or not the goal is worth the risks involved. If it is, stop worrying.

I have a motto: My job is not to make up anybody's mind but to make the agony of decision making so intense that you can escape only by thinking.

Reaching consensus in a group is often confused with finding the right answer.

trust your heart but use your head

Neither you nor I nor Einstein nor the Supreme Court of the United States is brilliant enough to reach an intelligent decision on any problem without first getting the facts