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You can be sure that over the next 10 years, you'll see something that you did not think was possible.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
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Omaha
Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett
Fund consultants like to require style boxes such as long-short, macro, international equities. At Berkshire our only style box is smart.
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Making money isn't the backbone of our guiding purpose it is the by-product of our guiding purpose.
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It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of that so as to produce kind of smooth, regular earnings from a very large base to start with.
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It will be good for us in the long run, and I mean there are, you know, six and a half billion people in this world. And it's great for 300 million to keep enjoying more and more property, but I think it's terrific if, you know, the remainder do.
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I want to be able to explain my mistakes. This means I do only the things I completely understand.
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I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.
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Never depend on a single source of income.
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... not doing what we love in the name of greed is very poor management of our lives.
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If the reason for doing something is that everyone else is doing it, it's not a good enough reason.
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If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.
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The one piece of advice I can give you is, do what turns you on. Do something that if you had all the money in the world, you’d still be doing it. You’ve got to have a reason to jump out of bed in the morning.
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In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.
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Our system works. Over time, people will live better and better. We have a system that unleashes human potential, and now China has a system that unleashes human potential. We will have interruptions. We overshoot and undershoot sometimes, but your kids and grandkids will live better than you. Over time, we move ahead at a pretty damn rapid rate.
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You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an imperfect language, but unless you are willing to put in the effort to learn accounting - how to read and interpret financial statements - you really shouldn't select stocks yourself
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Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.
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If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.
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I'll take the deal, whatever you want to do.
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People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.
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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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