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Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Decision
Primarily
Term
Avoiding
Rather
Produced
Making
Dumb
Long
Brilliant
Decisions
Ones
Results
Outstanding
More quotes by Warren Buffett
When we really sit back with a smile on our face is when we run into a situation we can understand, where the facts are ascertainable and clear, and the course of action obvious.
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You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it.
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What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important knowing its boundaries, however, is vital.
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Derivatives are financial weapons of mass destruction.
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If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.
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It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.
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The only question is whether you’re going to do it today or tomorrow. If you keep saying you’re going to do it tomorrow, you’ll never do it. You have to get on it today.
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In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
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I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board.
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I think that both parties should declare the debt limit as a political weapon of mass destruction which can't be used. I mean, it is silly to have a country that has 237 years building up its reputation and then have people threaten to tear it down because they're not getting some other matter.
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A newspaper that reduces its coverage of the news important to its community is certain to reduce its readership as well
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The three most important words in investing...Margin of Safety.
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Emotional makeup is more important than technical skill
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To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.
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Bad terminology is the enemy of good thinking.
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I'm the luckiest guy in the world in terms of what I do for a living. No one can tell me to do things I don't believe in or things I think are stupid.
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Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.
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You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.
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If you can't communicate and talk to other people and get across your ideas, you're giving up your potential.
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