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In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
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Investor
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Omaha
Nebraska
Warren Edward Buffett
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More quotes by Warren Buffett
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So smile when you read a headline that says Investors lose as market falls. Edit it in your mind to Disinvestors lose as market falls-but investors gain. Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: Every putt makes someone happy.
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My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.
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There's not many businesses where someone can come in and offer to cut the price in half and somebody doesn't think about shifting. But that's the nature of the ratings business.
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If I got a chance to take one percent of the deal either way, I would make that bet.
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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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The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.
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Focus on your customers and lead your people as though their lives depend on your success.
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