Warren Buffett Quotes
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I could end the deficit in five minutes. You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.
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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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I'll tell you why I like the cigarette business. … It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty.
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If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.
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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
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I bought a company in the mid-'90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
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Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble. '25 Best Warren Buffett Quotes' The Motley Fool (28 September 2014)
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We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.
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Let blockheads read what blockheads wrote.
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I like to study failure, actually. My partner says, 'I want to know where I'll die so I'll never go there.' We want to see what has caused businesses to go bad. The biggest thing that kills them is complacency. ... The danger would always be that you rest on your laurels.
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If a business does well, the stock eventually follows.
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Only when the tide goes out do you discover who's been swimming naked.
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You know, people talk about this being an uncertain time. You know, all time is uncertain. I mean, it was uncertain back in - in 2007, we just didn't know it was uncertain. It was - uncertain on September 10th, 2001. It was uncertain on October 18th, 1987, you just didn't know it.
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Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
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Value is what you get.
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Over the years, Charlie Munger, Berkshire Hathaway Vice Chairman and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
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Your premium brand had better be delivering something special, or it's not going to get the business.
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Wide diversification is only required when investors do not understand what they are doing.
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
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Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.
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We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'
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I would say the most satisfying thing actually is watching my three children each pick up on their own interests and work many more hours per week than most people that have jobs at trying to intelligently give away that money in fields that they particularly care about.
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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.
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I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.