You are absolutely spot on to know the difference between value and price. Unfortunately most investors thought they are the same and lost their fortunes as a result.

Price is what you pay. Value is what you get.

This has caught my attention because these two do not usually correspond to each other. One could be higher than the other or vice versa. A very interesting quote worth pondering about.

Just come across few thought provoking quotes from the sage of Omaha. Any views?

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

Our favorite holding period is forever.

Price is what you pay. Value is what you get.

On the last quote, it reminds me of a quip by the famous Oscar Wilde (a homosexual playwright):

Definition of a cynic: One who knows the price of everything and price of nothing.