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Uncertainty is the friend of the buyer of long term values.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Values
Long
Buyer
Buyers
Uncertainty
Friend
Term
More quotes by Warren Buffett
Long ago, Ben Graham taught me that Price is what you pay value is what you get. Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.
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Diversification is protection against ignorance. It makes little sense if you know what you are doing.
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The greater the potential for reward in the value portfolio, the less risk there is.
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Don't risk what is important to you, to get what is not important to you.
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Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.
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Buy stocks like you buy your groceries, not like you buy your perfume.
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What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important knowing its boundaries, however, is vital.
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I don't read economic forecasts. I don't read the funny papers.
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If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.
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If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.
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A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.
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Goldman Sachs saying they might be interested in such an investment. I'm familiar with the company. I've known the management, the current management, Jack Welch before Jeff Immelt. I've known him for decades.
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In the end we must have people to match our principles, not the reverse.
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Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.
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It's never paid to bet against America. We come through things, but its not always a smooth ride.
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Take Wrigley's Chewing Gum. I don't think the Internet is going to change how people chew gum.
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If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.
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When they get their ego involved, people do things they shouldn't do.
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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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The Noah rule: Predicting rain doesn't count building arks does.
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