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I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Minneapolis
Jeff
Microsoft
Mail
Ended
Sent
Court
Life
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I view derivatives as time bombs, both for the parties that deal in them and the economic system.
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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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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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They [Goverment] take from the woman who comes in and takes the wastebaskets out.
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Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
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Uncertainty is the friend of the buyer of long term values.
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Writing a check separates a commitment from a conversation.
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Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
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You pay a very high price in the stock market for a cheery consensus.
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The stockmarket is a semi-psychotic creature given to extremes of elation and despair.
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The American worker is more productive than he's ever been.
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