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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
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Omaha
Nebraska
Warren Edward Buffett
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Carnegie

More quotes by Warren Buffett

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Investing is forgoing consumption now in order to have the ability to consume more at a later date.
Warren Buffett
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You are neither right nor wrong because the crowd disagrees with you.
Warren Buffett
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It's a lot easier to buy things than it is to sell them.
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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You do not adequately protect yourself by being half awake when other are sleeping.
Warren Buffett
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If you own the only newspaper in town, up until the last five years or so, you have pricing power and you didn't have to go to the office.
Warren Buffett
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If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.
Warren Buffett
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Be fearful when the markets get greedy, be greedy when the markets get fearful.
Warren Buffett
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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.
Warren Buffett
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I don't have my diploma from the University of Nebraska hanging on my office wall, and I don't have my diploma from Columbia up there either-but I do have my Dale Carnegie graduation certificate proudly displayed.
Warren Buffett
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
Warren Buffett
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Invest in as much of yourself as you can, you are your own biggest asset by far.
Warren Buffett
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I've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.
Warren Buffett
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With housing it's something even more dramatic than that, because most people aspire to own their own home.If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year.That's not true of an Internet stock. But it's true of a home.
Warren Buffett
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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
Warren Buffett
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You can lose leverage, and it's the only way a smart guy can go broke.
Warren Buffett
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The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
Warren Buffett
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Don't invest in pieces of papers (stocks), invest in great businesses underlying them
Warren Buffett
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You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.
Warren Buffett
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I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.
Warren Buffett