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Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Point
Speculation
Ends
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Doe
Fundamentals
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Beginning
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More quotes by Warren Buffett

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If anything, taxes for the lower and middle class and maybe even the upper-middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.
Warren Buffett
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We have embraced the 21st century by entering such cutting-edge industries as brick, carpet, insulation and paint. Try to control your excitement.
Warren Buffett
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I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
Warren Buffett
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I think the worst mistake you can make in stocks is to buy or sell based on current headlines.
Warren Buffett
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We are trading away a little bit of our country all the time for this access consumption that we have over what we've produced. That is not good. I think it's terrible over time. But our country's productive grows enough so we actually can do that, and we'll still be better off. We just don't be as well off as if we hadn't done it.
Warren Buffett
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No matter how great the talent or efforts, some things just take time.
Warren Buffett
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I am a better investor because I am a businessman, and a better businessman because I am no investor.
Warren Buffett
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In the end we must have people to match our principles, not the reverse.
Warren Buffett
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If you buy the things you don't need, you will soon be selling the things that you need.
Warren Buffett
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Time is your friend, impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market.
Warren Buffett
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It is easier to rationalize than it is to be rational.
Warren Buffett
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I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me.
Warren Buffett
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I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I'd been born into a tribe of hunters, this talent of mine would be pretty worthless. I can't run very fast. I'm not particularly strong. I'd probably end up as some wild animal's dinner.
Warren Buffett
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People will always try to stop you from doing the right thing if it is unconventional.
Warren Buffett
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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.
Warren Buffett
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One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.
Warren Buffett
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I think it will get moving faster. I mean once you get it off the - once credit flows - now the recession is going to get worse.
Warren Buffett
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On his Giving Pledge philanthropy: The way I got the message out was to get a copy of FORBES, look down that 400 list and start making phone calls! Bill and Melinda [Gates] did the same thing. So keep publishing the list so I can milk it.
Warren Buffett
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In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.
Warren Buffett
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In my opinion, the entire field of investment management, involving hundreds of billions of dollars, would be more satisfactorily conducted if everyone had a good yardstick for measurement of ability and sensibly applied it.
Warren Buffett