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The stockmarket is a semi-psychotic creature given to extremes of elation and despair.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Creature
Extremes
Despair
Creatures
Given
Elation
Semi
Psychotic

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The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.
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It makes a difference who the treasury secretary is.
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If you're in a card game and you can't figure out who the patsy is, you're it.
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If you don't find a way to make money while you sleep, you will work until you die.
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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.
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In economics, you always want to ask 'And then what?'
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In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'
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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.
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The most important investment you can make is in yourself. Very few people get anything like their potential horsepower translated into the actual horsepower of their output in life. Potential exceeds realization for many people...The best asset is your own self. You can become to an enormous degree the person you want to be.
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Would you rather be the world's greatest lover, but have everyone think you're the world's worst lover? Or would you rather be the world's worst lover but have everyone think you're the world's greatest lover? Now, that's an interesting question.
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It's very important that the determination of the US Congress to do what is is needed be made evident this week and by the actions of most of the members. I mean, you're not going to get total assent.
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We don't read other people's opinions. We want to get the facts, and then think.
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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.
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A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.
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I know the country works extremely well. You know, but when it isn't clogged up.
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We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
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When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.
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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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Trust is like the air we breathe--when it's present, nobody really notices when it's absent, everybody notices.
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At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.
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