Warren Buffett Quotes
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When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
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Putting people into homes, though a desirable goal, shouldn’t be our country’s primary objective. Keeping them in their homes should be the ambition.
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I call investing the greatest business in the world … because you never have to swing. You stand at the plate, the pitcher throws you General Motors at 47! U.S. Steel at 39! and nobody calls a strike on you. There's no penalty except opportunity lost. All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.
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We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
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I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
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I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
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You're dealing with a lot of silly people in the marketplace; it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be O.K.
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I just read and read and read. ... I have always enjoyed reading.
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The best thing that happens to us is when a great company gets into temporary trouble... We want to buy them when they're on the operating table. 'Homespun Wisdom from the 'Oracle of Omaha'' Businessweek (5 July 1999)
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The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.
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An irresistible footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.
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There's a whole bunch of things I don't know a thing about – I just stay away from those. So, I stay within what I call my circle of competence.
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I've reluctantly discarded the notion of my continuing to manage the portfolio after my death - abandoning my hope to give new meaning to the term 'thinking outside the box.'
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We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.
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Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
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People will always try to stop you doing the right thing if it is unconventional.
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Capitalism is all about somebody coming and trying to take the castle. Now what you need is .... you need a castle that has some durable competitive advantage - some castle that has a moat around it.
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Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.
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Management's objective is to achieve a return on capital over the long term which averages somewhat higher than that of American industry generally - while utilizing sound accounting and debt policies.
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You couldn't advance in a finance department in this country unless you taught that the world was flat.
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Warren Buffett's Top 10 Rules for Success – YouTube, uploaded by Evan Carmichael, 2015
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You can’t make a good deal with a bad person. '23 Quotes from Warren Buffett on Life and Generosity' forbes.com (02 December 2013)
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We never want to count on the kindness of strangers in order to meet tomorrow’s obligations. When forced to choose, I will not trade even a night’s sleep for the chance of extra profits.
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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.