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If calculus or algebra were required to be a great investor, I'd have to go back to delivering newspapers." ~ Warren Buffett
Avoiding the dumb things is the most important. Learn more, know limitations, avoid the dumb thing.~ Warren Buffett

Warren Buffett

The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs ~ Warren Buffett

Warren Buffett

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction. ~ Warren Buffett

Warren Buffett

In terms of simple profitability, an average investor could have done just as well [as his company Berkshire Hathaway] by investing in the stock market if they bought during the panic period. ~ Warren Buffett

Warren Buffett

People always want a formula - but it doesn't work that way - you have to estimate total cash generated from now to eternity, and discount it back to today. Yardsticks such as P/Es are not enough by themselves. ~ Warren Buffett

Warren Buffett

The business schools reward difficult complex behaviour more than simple behaviour, but simple behaviour is more effective. ~ Warren Buffett

Warren Buffett

Identifying bubbles is fairly easy. You don't know how big they will get and you don't know when they will pop. You don't know when midnight will hit, but when it does, it turns carriages to pumpkins and mice. What markets will do is pretty easy. When they will do it is more difficult. Some people want to stick around for the last dance, and they thought that a bigger fool would be just around the corner tomorrow. ~ Warren Buffett

Warren Buffett

Our acquisition preferences run toward businesses that generate cash, not those that consume it.~ Warren Buffett

Warren Buffett

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. ~ Warren Buffett

Warren Buffett

Turnarounds seldom turn, and that the same energies and talent are much better employed in a good business purchased at a fair price than in a poor business purchased at a bargain price. ~ Warren Buffett
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results. ~ Warren Buffett
We don't have to be smarter than the rest. We have to be more disciplined than the rest. ~ Warren Buffett
I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. 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. ~ Warren Buffett
Long ago, Ben Graham taught me that 'Price is what you pay; value is what you get.' Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down. ~ Warren Buffett
Cash combined with courage in a time of crisis is priceless. ~ Warren Buffett
A business or stock is not an intelligent purchase simply because it is unpopular; a contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world: "Most men would rather die than think. Many do. ~ Warren Buffett
The investor of today does not profit from yesterday's growth ~ Warren Buffett
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
The investor of today does not profit from yesterday' s growth ~ Warren Buffett