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Don't invest in pieces of papers (stocks), invest in great businesses underlying them

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Businesses
Paper
Pieces
Great
Stocks
Underlying
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Papers

More quotes by Warren Buffett

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If the reason for doing something is that everyone else is doing it, it's not a good enough reason.
Warren Buffett
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The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.
Warren Buffett
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If we start deciding, based on guesses or emotions, whether we will or won't participate in a business where we should have some long run edge, we're in trouble.
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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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No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics crazy. They can compute standard deviations and betas, but they can't understand moats.
Warren Buffett
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Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.
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I think any time you couple the term Wall Street with bailout or something like that, you know - I don't like what's going on in Wall Street.
Warren Buffett
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There is no question we have an access stock.
Warren Buffett
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Take the job you would take if you were independently wealthy. You're going to do well at it.
Warren Buffett
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If I got any good ideas out of that or I think they're good ideas, I'll be glad to contribute them but the system will probably overdo some other things.
Warren Buffett
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People will always try to stop you from doing the right thing if it is unconventional.
Warren Buffett
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There are three kinds of people: 1. Innovators. 2. Imitators. 3. Idiots.
Warren Buffett
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We intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.
Warren Buffett
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You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map.
Warren Buffett
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If you invested in a very low cost index fund - where you don't put the money in at one time, but average in over 10 years -you'll do better than 90% of people who start investing at the same time.
Warren Buffett
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Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we're trying to do. It's imperfect, but that's what it's all about.
Warren Buffett
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If you owe money, you can't pay them out. You just pay for everything, you do smart things, you eventually get very rich.
Warren Buffett
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I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing.
Warren Buffett
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We're perfectly willing to trade away a big payoff for a certain payoff.
Warren Buffett
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Be brave when others are afraid, and afraid when others are brave.
Warren Buffett