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If you want to soar like an eagle in life, you can't be flocking with the turkeys.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Life
Like
Flocking
Eagle
Turkeys
Eagles
Soar
More quotes by Warren Buffett
Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.
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If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.
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The ability to say no is a tremendous advantage for an investor.
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You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
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I think that both parties should declare the debt limit as a political weapon of mass destruction which can't be used. I mean, it is silly to have a country that has 237 years building up its reputation and then have people threaten to tear it down because they're not getting some other matter.
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Accounting is the language of business.
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Only when the tide goes out do you discover who's been swimming naked.
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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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We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20 trillion, I should say, worth of residential homes.
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I don't try and guess when to get in and out of the market. I have owned stocks consistently since 1942. I owned the - I was buying stocks the day before the election. I was buying the same stocks the day after election. And if Hillary had been elected, it would have been the same thing.
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The only question is whether you’re going to do it today or tomorrow. If you keep saying you’re going to do it tomorrow, you’ll never do it. You have to get on it today.
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The market system rewards me outlandishly for what I do, but that doesn't mean I'm any more deserving of a good life than a teacher or a doctor or someone who fights in Afghanistan.
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I view derivatives as time bombs, both for the parties that deal in them and the economic system.
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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.
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Do not take yearly results too seriously. Instead, focus on four or five-year averages.
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You don't ever ask a barber whether you need a haircut.
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I may have more money than you, but money doesn't make the difference. If there is any difference between you and me, it may simply be that I get up and have a chance to do what I love to do, every day. If you learn anything from me, this is the best advice I can give you.
Warren Buffett
Never invest in a business you can't understand
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I asked him what he wanted to do for his career, and he replied that he wanted to go into a particular field, but thought he should work for McKinsey for a few years first to add to his resume. To me that's like saving sex for your old age. It makes no sense.
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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
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