I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

This line is widely attributed to Warren Buffett as a capsule summary of his contrarian, value-investing approach: ignoring market noise (“close the doors”) and taking the opposite side of crowd emotion. Buffett has repeated the core idea for decades in interviews and shareholder communications, especially when discussing how fear and euphoria drive mispricing in markets. The phrasing often circulates as a standalone “how to become rich” maxim, but it appears to be a later popularized formulation rather than a verbatim line traceable with high certainty to a single dated speech, interview, or Berkshire Hathaway annual letter.

The quote argues that wealth is built by resisting social contagion in markets. “Close the doors” suggests shutting out the crowd’s excitement, panic, and constant commentary so decisions can be anchored in fundamentals and long-term value. The paired imperatives—fearful when others are greedy, greedy when others are fearful—describe disciplined contrarianism: reduce risk when prices are inflated by exuberance, and deploy capital when pessimism creates bargains. It also implies emotional self-management: the hardest moments to buy or sell are precisely when the crowd’s feelings are most intense.

1) “Be fearful when others are greedy, and be greedy when others are fearful.”
2) “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
3) “Be greedy when others are fearful.”