The most common cause of low prices is pessimism-some times pervasive some times specific to a company or industry. We want to do business in such an environment not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist. He is considered by some to be one of the most successful investors in the world, and as of March 2017 is the second wealthiest person in the United States, and the fourth wealthiest in the world, with a total net worth of $73.3 billion.
Enjoy the best Warren Buffett picture quotes.
Read more about Warren Buffett on Wikipedia.