Read? 8 memorable quotes from Warren Buffett's newest shareholder letter These three quotes; Uncle8888 can relate better. No parroting! Really doing them! 2. “But Charlie 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.” Buffett and Charlie Munger’s aversion to using leverage may have “dampened” their returns over the last 53 years, but the long-term focused investors don’t seem all that bothered by it. 5. “When major declines occur, however, they offer extraordinary opportunities to those who are not handicapped by debt.” Leverage might boost returns when prices go up, but it’s devastating when prices go down, which is when solvent investors are able buy cheaply ......