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How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Beat
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Stay
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Fischer
Games
Bobby
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Edges
Chess
More quotes by Warren Buffett
If you are a professional and have confidence, then I would advocate lots of concentration.
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Never invest in a business you can't understand
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Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.
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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.
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... it's important to have the right monetary policy. It's important for, to have the right fiscal policy. But it's nowhere near as important as just the normal regenerative capacity of American capitalism.
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We need a tax system that essentially takes very good care of the people who just really aren't as well adapted to the market system but are nevertheless doing useful things in the society.
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I would say the biggest single cause was we had an incredible residential real estate bubble.
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In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.
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The reaction of weak management to weak operations is often weak accounting.
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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.
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You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.
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If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.
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It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market you don't base your decisions on what the market is doing, but on what you think is rational. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.
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Sound investing can make you very wealthy if you're not in too big a hurry
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Take the job you would take if you were independently wealthy. You're going to do well at it.
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Charlie and I have a number of filters that things have to get through before we'll think about them.
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I think the rest of the country should be paying less, the 95 percent that [Barack] Obama talks about or maybe even a little higher than that.
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I'm happy when I can spend every day doing the things that I like to do. That's my luxury.
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Confidence is key. You're not going to put your money - you're not going to leave your money with me unless you're confident I'm going to give it back to you.
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In the insurance business, there is no statute of limitation on stupidity.
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