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Does management resist the institutional imperative?
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Resist
Investing
Management
Doe
Institutional
Imperative
Imperatives
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Every company that has an economist working for him has one employee too many.
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An investor should act as though he had a lifetime decision card with just twenty punches on it.
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The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
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When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.
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Making money isn't the backbone of our guiding purpose making money is the by-product of our guiding purpose. If you're doing something you love, you're more likely to put your all into it, and that generally equates to making money
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When you're associating with the people that you love, doing what you love, it doesn't get any better than that.
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If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing.
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Diversification may preserve wealth, but concentration builds wealth.
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Buy into a company because you want to own it, not because you want the stock to go up.
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We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.
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We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.
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Exercise humility and restraint.
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Inflation could be a very - is a likely consequence out of what's going on now.
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A single year's performance is of minor importance and, good or bad, should never be taken seriously.
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If you want a government that's going to do the things we ask our government to do, you've got to get it from somebody.
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I am a better investor because I am a businessman, and a better businessman because I am no investor.
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The key to success is emotional stability.
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People will always try to stop you from doing the right thing if it is unconventional.
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Occasionally, a man must rise above principles.
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