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Activity is the enemy of investment returns.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Return
Enemy
Returns
Investing
Investment
Activity

More quotes by Warren Buffett

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I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude.
Warren Buffett
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
Warren Buffett
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I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.
Warren Buffett
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If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.
Warren Buffett
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Investing requires qualities of temperament way more than it requires qualities of intellect.
Warren Buffett
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Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.
Warren Buffett
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Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.
Warren Buffett
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I would say the biggest single cause was we had an incredible residential real estate bubble.
Warren Buffett
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When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
Warren Buffett
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Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.
Warren Buffett
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Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.
Warren Buffett
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The most important investment you can make is in yourself. Very few people get anything like their potential horsepower translated into the actual horsepower of their output in life. Potential exceeds realization for many people...The best asset is your own self. You can become to an enormous degree the person you want to be.
Warren Buffett
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What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.
Warren Buffett
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I always invest in companies an idiot could run, because one day one will.
Warren Buffett
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
Warren Buffett
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If you buy the things you don't need, you will soon be selling the things that you need.
Warren Buffett
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Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you're still around to play the next day.
Warren Buffett
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There is nothing like writing to force you to think and get your thoughts straight.
Warren Buffett
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The first rule is not to lose. The second rule is not to forget the first rule.
Warren Buffett
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We make investment decisions based on our evaluation of the most profitable combination of probabilities.
Warren Buffett