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Failing conventionally is the route to go as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Failing
Route
Groups
Routes
Individual
Rotten
Business
Received
May
Presses
Ever
Press
Lemming
Image
Lemmings
Group
Conventionally
More quotes by Warren Buffett
What the wise do in the beginning, fools do in the end.
Warren Buffett
Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
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I find that the standard of living does not go up in proportion with the cost of living. The trick in life is to do things that are fun all the time.
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A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
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Don't risk what is important to you, to get what is not important to you.
Warren Buffett
It is easier to rationalize than it is to be rational.
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In the end we must have people to match our principles, not the reverse.
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How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.
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I view derivatives as time bombs, both for the parties that deal in them and the economic system.
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I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.
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Buy a business, don't rent stocks.
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To be successful, you should concentrate on the world of companies, not arcane accounting mathematics.
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Never test the depth of river with both the feet.
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The 19th century belonged to England, the 20th century belonged to the U.S., and the 21st century belongs to China. Invest accordingly.
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Never lie under any circumstances.
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The latter qualification brings to mind a fellow who applied for a job and stated he had twenty years of experience-which was corrected by a former employer to read one year's experience-twenty times.
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Cash combined with courage in a time of crisis is priceless.
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I have a wonderful family. I have a job that I love and wonderful people who help me with it. It can't get any better than that.
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So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense.
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