3 Warren Buffett quotes that could help you retire a millionaire

Having built a net worth of $84bn in his lifetime, Warren Buffett clearly knows how to invest. He has been able to generate consistently high returns which have been in excess of those of the wider market. And best of all, his investment style seems to be relatively straightforward, meaning private investors could implement some or all of it to benefit their own portfolios.

With that in mind, here are three quotes from Warren Buffett which could help to improve your investment returns. They could put you on the path towards millionaire status.

'In the business world, the rearview mirror is always clearer than the windshield'

As every investor knows, it is relatively straightforward to look back and see which shares should have been bought and when. With the benefit of hindsight, we would all be millionaires. However, investing is about trying to apportion capital in the most efficient fashion given the future prospects for the economy.

As such, there is an element of risk involved in investing which is ever-present. Accepting this and trying to obtain a margin of safety could be key to generating impressive returns over a long-term timeframe. Otherwise, investors may either be unwilling to buy shares due to the lack of clarity in how they may perform in future, or else may experience disappointment when paper losses are incurred.

'Predicting rain doesn't count. Building arks does'

The economic cycle means that share prices inevitably experience bear markets at some point over the long-term. While it is possible for any investor to state that there are major risks ahead for the economy and that share prices may be due a fall, acting upon that belief is crucial to long-term investment success.

In other words, having an opinion on the future direction of share prices is unlikely to be beneficial to portfolio performance unless it is backed-up by action. All too often investors may have an opinion on the future prospects of the stock market but fail to act upon it because it would go against current market sentiment. Buffett, though, has never been afraid to ignore his fellow investors, with going against the 'herd' having been crucial to his investment success.

'Beware of geeks bearing formulas'

As mentioned, Warren Buffett's investment style is relatively simple. In fact, he has consistently avoided more complex investment styles and methods that have become increasingly popular in recent years.

For private investors, his stance is highly insightful. While it may be possible to generate a seven-figure portfolio through the use of complex investment strategies, Buffett has been able to use simple methods to amass an $84bn fortune. As such, even if the reason for buying or selling a stock may seem simple or somewhat obvious, it could be just as valid as a more complex standpoint if it proves to be correct.

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