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The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.

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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More quotes by Warren Buffett

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The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
Warren Buffett
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A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street (a community in which quality control is not prized) will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.
Warren Buffett
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So smile when you read a headline that says Investors lose as market falls. Edit it in your mind to Disinvestors lose as market falls-but investors gain. Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: Every putt makes someone happy.
Warren Buffett
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In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'
Warren Buffett
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The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.
Warren Buffett
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A Company should be viewed as an unfolding movie, not as a still photograph
Warren Buffett
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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.
Warren Buffett
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Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you're still around to play the next day.
Warren Buffett
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There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.
Warren Buffett
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The greater the potential for reward in the value portfolio, the less risk there is.
Warren Buffett
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Inactivity strikes us as intelligent behavior.
Warren Buffett
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The same things happen to quite an extent around the globe. I mean, the European banks were doing what the American banks were.
Warren Buffett
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Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?
Warren Buffett
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I always knew I was going to be rich. I don't think I ever doubted it for a minute.
Warren Buffett
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People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.
Warren Buffett
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I would rather sustain the penalties resulting from over-conservatism than face the consequences of error, perhaps with permanent capital loss, resulting from the adoption of New Era philosophy where trees really do grow to the sky.
Warren Buffett
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If you want a government that's going to do the things we ask our government to do, you've got to get it from somebody.
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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Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.
Warren Buffett
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I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent.
Warren Buffett