“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 only when others are fearful.”
2004 Chairman's Letter http://www.berkshirehathaway.com/letters/2004.html
Letters to Shareholders (1957 - 2012)
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Warren Buffett 146
American business magnate, investor, and philanthropist 1930Related quotes
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
Interview with Charlie Rose, on PBS (1 October 2008), also reported in "Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime - Charlie Rose Interview" at CNBC (1 October 2008) http://www.cnbc.com/id/26982338
Context: You want to be greedy when others are fearful. You want to be fearful when others are greedy. It's that simple. … They're pretty fearful. In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.
“be greedy when others are fearful, and fearful when others are greedy.”
“People fear/hate other nations only when they don't know them.”
Treo Notes (December 2006 - December 2009)