Quote collection
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"There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do."
"All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it."
"How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge."
"What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact."
"A lot of people disagree with me on this, I believe in mark to market."
"Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about."
"I think that both parties should declare the debt limit as a political weapon of mass destruction which can't be used. I mean, it is silly to have a country that has 237 years building up its reputation and then have people threaten to tear it down because they're not getting some other matter."
"We're still in a recession. We're not gonna be out of it for a while, but we will get out."
"Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero."
"Growth and value investing are joined at the hip."
"If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes."
"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."
"Lethargy, bordering on sloth should remain the cornerstone of an investment style."
"What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while."
"In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal."
"Benign neglect, bordering on sloth, remains the hallmark of our investment process."
"Investing requires qualities of temperament way more than it requires qualities of intellect."
"Nothing sedates rationality like large doses of effortless money."
"Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused you sell to him, and if he gets depressed, you buy from him. There's no moral taint attached to that."
"Problems in a company are like cockroaches in the kitchen. You will never find just one"