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I want to be able to explain my mistakes. This means I do only the things I completely understand.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Mistakes
Completely
Mistake
Understand
Means
Able
Mean
Things
Explain

More quotes by Warren Buffett

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In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.
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Cultivate curiosity and strive to become a little wiser every day.
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When people talk about cash being king, it's not king if it just sits there and never does anything.
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Good big decisions do not take time at all, if they do you are in trouble.
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When they get their ego involved, people do things they shouldn't do.
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Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.
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You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.
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Investing is simple, but not easy.
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I mean, Hank Paulson is in there [ Treasury] at the wrong time, probably shouldn't have taken the job. He's a friend of mine. But he knows markets, he knows corporations' work, he knows money, and he's got the interests of the country at heart.
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This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.
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We continue to make more money when snoring than when active.
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Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.
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Investing in yourself is the best thing you can do. If you've got talents, no one can take them from you.
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Benign neglect, bordering on sloth, remains the hallmark of our investment process.
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It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.
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It makes a difference who the treasury secretary is.
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The advice you never go broke taking a profit is foolish.
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I'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up.
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It is more important to say no to an opportunity, than to say yes.
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Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.
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