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The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Carnegie
Real
Corporate
Speculation
Fortunes
Much
Instance
Etc
Andrew
Made
Disappear
Idle
Maintained
Men
Kept
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Energetic
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Oil
Scarcely
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Estate
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Many
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More quotes by Warren Buffett

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Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.
Warren Buffett
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... it's important to have the right monetary policy. It's important for, to have the right fiscal policy. But it's nowhere near as important as just the normal regenerative capacity of American capitalism.
Warren Buffett
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Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich.
Warren Buffett
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When Berkshire buys common stock, we approach the transaction as if we were buying into a private business.
Warren Buffett
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The most important quality for an investor is temperament, not intellect.
Warren Buffett
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Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are.
Warren Buffett
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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.
Warren Buffett
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I’ve never believed in risking what my family and friends have and need in order to pursue what they don’t have and don’t need.
Warren Buffett
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If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.
Warren Buffett
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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.
Warren Buffett
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Look for 3 things in a person. Intelligence, Energy, & Integrity. If they don't have the last one, don't even bother with the first two.
Warren Buffett
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If we start deciding, based on guesses or emotions, whether we will or won't participate in a business where we should have some long run edge, we're in trouble.
Warren Buffett
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I've often felt there might be more to be gained by studying business failures than business successes.
Warren Buffett
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Never lie under any circumstances.
Warren Buffett
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A very rich person should leave his kids enough to do anything, but not enough to do nothing.
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.
Warren Buffett
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The Noah rule: Predicting rain doesn't count building arks does.
Warren Buffett
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When it's raining gold, reach for a bucket, not a thimble.
Warren Buffett
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We like to buy businesses, but we don't like to sell them.
Warren Buffett
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People do, as long as you have markets, you'll have excesses.
Warren Buffett