Not only was Buffett a successful investor, his wisdom will last forever. Here are some of his best quotes

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Not only was Buffett a successful investor, his wisdom will last forever. Here are some of his best quotes

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CEO Warren Buffett announced plans Saturday to step down as chief executive by the end of the year. The legendary investor will leave a lasting legacy and a worldwide following that swears by his words of wisdom. Fortune gathered some of the best quotes from the “Oracle of Omaha.”

Berkshire Hathaway CEO Warren Buffett announced to shareholders at the company’s annual meeting Saturday that he expects to step down from his role as chief executive by the end of the year.

Through Berkshire’s success, Buffett became a celebrity investor, amassing a loyal following that tracks his market moves.

But not only was Buffett, nicknamed the “Oracle of Omaha,” successful in his investing, his wit and wisdom also highlight his unprecedented career.

Fortune compiled some of his best quotes over the years:

“When we own portions of outstanding businesses with outstanding managements, our favorite holding ******* is forever,” Buffett wrote in a

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commenting on recent investments into

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and

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.

“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price,” he said in a

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.

“You know, Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway,” Buffett told

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in 1991.

“It’s only when the tide goes out that you learn who’s been swimming naked,” he quipped in a

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“Beware the investment activity that produces applause; the great moves are usually treated by yawns,” he warned in his

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amid the U.S. Treasury bond bubble.

“A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful,” Buffett wrote in a 2008

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op-ed.

“Our aversion to leverage has dampened our returns over the years. But Charlie [Munger] and I sleep well. Both of us believe it is insane to risk what you have and need in order to obtain what you don’t need,” he cautioned in his

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.

“Despite our citizens’ penchant — almost enthusiasm — for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Buffett said in his

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.

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