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Continually challenge and be willing to amend your best loved ideas.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Challenge
Loved
Willing
Challenges
Best
Ideas
Amend
Continually
More quotes by Warren Buffett
Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
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If you don't know jewelry, know the jeweler.
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A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.
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I lose confidence in other people, all kinds of institutions.
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It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.
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The secret to happiness is having low expectations.
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For some reason, people take their cues from price action rather than from values. What doesn't work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up.
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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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Exercise humility and restraint.
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The good thing is, we have household formation in this country.
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Investing is forgoing consumption now in order to have the ability to consume more at a later date.
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I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent.
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Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay.
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What we learn from history is that people don't learn from history.
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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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We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
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Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
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I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the finanical system to let me do what I love doing-and make a lot of money doing it. The least I can do is help pay for all that.
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Is management rational?
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