Quote

Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we're trying to do. It's imperfect, but that's what it's all about.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Gains
Loss
Amount
Possible
Times
Take
Probability
Trying
Imperfect
Gain

More quotes by Warren Buffett

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In looking for people to hire, look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.
Warren Buffett
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If you can't read the scoreboard. You don't know the score. If you don't know the score, you can't tell the winners from the losers.
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I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. You need to fill your mind with various competing thoughts and decide which make sense.
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I look at everything. That's my job. I really do, every day. I think about everything.
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I find that the standard of living does not go up in proportion with the cost of living. The trick in life is to do things that are fun all the time.
Warren Buffett
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The typical large company has a compensation committee, They don't look for Dobermans on that committee, they look for chihuahuas.
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If you owe money, you can't pay them out. You just pay for everything, you do smart things, you eventually get very rich.
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I can't promise results, but I can promise a common destiny.
Warren Buffett
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I tell college students, when you get to be my age you will be successful if the people who you hope to have love you, do love you.
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I would say it's more important who the treasury secretary is than who the vice president is. If you want to have a debate here, I'd like a debate between potential treasury secretaries than the vice presidential debate.
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If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks more cheaply to your portfolio.
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If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.
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When the president of the United States goes out at, you know, 8:00 o'clock in the morning and then his own party votes gets him 2 to 1 in the house, you know that somehow a message isn't getting out. It takes real leadership.
Warren Buffett
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The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
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I think the rest of the country should be paying less, the 95 percent that [Barack] Obama talks about or maybe even a little higher than that.
Warren Buffett
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Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.
Warren Buffett
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Remember that the stock market is manic-depressive.
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.
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If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.
Warren Buffett
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We only want to link up with people whom we like, admire, and trust. ... We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.
Warren Buffett