“For the investor, a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favorable business developments.”
“Never invest in a business you cannot understand.”
“In the business world, the rearview mirror is always clearer than the windshield.”
“Time is the friend of the wonderful company, the enemy of the mediocre.”
“The three most important words in investing are margin of safety.”
“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
“Successful investing takes time, discipline, and patience. No matter how great the talent or effort, some things just take time: You can’t produce a baby in one month by getting nine women pregnant.”
"An investor should act as though he had a lifetime decision card with just twenty punches on it."
“There is nothing wrong with a ‘know nothing’ investor who realizes it. The problem is when you are a ‘know nothing’ investor but you think you know something.”
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