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Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
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Short
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More quotes by Warren Buffett
Let blockheads read what blockheads wrote.
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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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If you're in a card game and you can't figure out who the patsy is, you're it.
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We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.
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Other guys read Playboy. I read annual reports.
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In some corner of the world they are probably still holding regular meetings of the Flat Earth Society. We derive no comfort because important people, vocal people, or great numbers of people agree with us. Nor do we derive comfort if they don't.
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Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.
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Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.
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We have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.
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I wouldn’t mind going to jail if I had three cellmates who played bridge
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Enjoy your work and work for whom you admire.
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The .350 hitter expects, and also deserves, a big payoff for his performance - even if he plays for a cellar-dwelling team. And a .150 hitter should get no reward - even if he plays for a pennant winner.
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Our favorite holding period is forever.
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I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp.
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It is unquestionably true that the investment companies have their money more conventionally invested than we do. To many people conventionality is indistinguishable from conservatism. In my view, this represents erroneous thinking. Neither a conventional nor an unconventional approach, per se, is conservative.
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My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.
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I think I could make you fifty percent a year on one million dollars. No, I know I could. I guarantee that.
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The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.
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I want to be able to explain my mistakes. This means I do only the things I completely understand.
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