Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.
Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No.1.
It is not necessary to do extraordinary things to get extraordinary results.
Chains of habit are too light to be felt until they are too heavy to be broken.
I measure success by how many people love me.
Without passion, you don’t have energy. Without energy, you have nothing.
Risk comes from not knowing what you’re doing.
I always knew I was going to be rich. I don’t think I ever doubted it for a minute.
Diversification is a protection against ignorance. It makes very little sense for those who know what they’re doing.
In the business world, the rearview mirror is always clearer than the windshield.
I’ve seen more people fail because of liquor and leverage – leverage being borrowed money. You really don’t need leverage in this world much. If you’re smart, you’re going to make a lot of money without borrowing.
The most important investment you can make is in yourself.
Only when you combine sound intellect with emotional discipline do you get rational behavior.
It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.
Honesty is a very expensive gift, Don’t expect it from cheap people.
Be fearful when others are greedy and greedy when others are fearful.
The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
Never invest in a business you can’t understand.
If you are in a poker game and after 20 minutes you don’t know who the patsy is, then you’re the patsy.
Nobody buys a farm based on whether they think it’s going to rain next year. They buy it because they think it’s a good investment over 10 or 20 years.
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
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