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A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street (a community in which quality control is not prized) will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
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Warren Edward Buffett
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More quotes by Warren Buffett

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Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.
Warren Buffett
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Well, it may be all right in practice, but it will never work in theory
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Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.
Warren Buffett
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The same things happen to quite an extent around the globe. I mean, the European banks were doing what the American banks were.
Warren Buffett
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Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.
Warren Buffett
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In the insurance business, there is no statute of limitation on stupidity.
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A bull market is like sex. It feels best just before it ends.
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Success in investing doesn’t correlate with I.Q. Once you are above the level of 25 once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.
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I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.
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Chains of habit are too light to be felt until they are too heavy to be broken.
Warren Buffett
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Every company that has an economist working for him has one employee too many.
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I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.
Warren Buffett
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Wall Street makes its money on activity. You make your money on inactivity.
Warren Buffett
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The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.
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The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.
Warren Buffett
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I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood in fact, if it occurswe will be selling life jackets to the unprepared.
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I'm putting all my money in the Chinese toy market.
Warren Buffett
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The most important investment you can make is in yourself... nobody can tax it or take it away from you.
Warren Buffett
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I think what people understand there probably - well, they were hoping the private sector would do it [rescuing AIG ].
Warren Buffett
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We will only do with your money what we would do with our own.
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