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You could be somewhere where the mail was delayed three weeks and do just fine investing.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Fine
Week
Three
Delayed
Mail
Weeks
Investing
Somewhere
More quotes by Warren Buffett
It's good to learn from your mistakes. It's better to learn from other people's mistakes.
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It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
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Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.
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What we really want to do is buy businesses that we would be happy to own forever.
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Asset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
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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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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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A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.
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Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.
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I'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up.
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I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.
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Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics.
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The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.
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An ounce of prevention is worth a pound of cure understated.
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Does the business have favourable long term prospects?
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The U.S. Treasury has got borrowing costs like nobody else has.
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I bought a company in the mid-90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
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