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If you have more than 120 or 130 I.Q. points, you can afford to give the rest away. You don't need extraordinary intelligence to succeed as an investor.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
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Omaha
Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett
it's a good idea to review past mistakes before committing new ones.
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Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.
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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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Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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I don't measure my life by the money I've made. Other people might, but certainly don't.
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In earlier years, a lesser effort produced literally dozens of comparable opportunities. It is difficult to be objective about the causes for such diminution of one's own productivity. Three factors that seem apparent are: (1) a somewhat changed market environment (2) our increased size and (3) substantially more competition.
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We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as focused investing.
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In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.
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Do not take yearly results too seriously. Instead, focus on four or five-year averages.
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Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.
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We try to buy businesses with good-to-superb underlying economics run by honest and able people and buy them at sensible prices. That's all I'm trying to do.
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When you combine ignorance and leverage, you get some pretty interesting results.
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The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.
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Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.
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The best asset is your own self. You can become to an enormous degree the person you want to be
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When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
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When the brothel burns down, even the pretty girls have to run out.
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I look at everything. That's my job. I really do, every day. I think about everything.
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The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.
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