In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
More Quotes from Warren Buffett:You only have to do a very few things right in your life so long as you don't do too many things wrong.
Time is the friend of the wonderful company, the enemy of the mediocre.
You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.
The first rule is not to lose. The second rule is not to forget the first rule.
I think it is a marvelous way to keep directors' interests and shareholders interests as closely aligned as possible, with both an upside and a downside component. Too often, people talk about interests being aligned when the directors get the upside and shareholders get the downside.
The burden of paying Helpers may cause American equity investors, overall, to earn only 80 percent or so of what they would earn if they just sat still and listened to no one.
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The factories were heavily bombed, but practically the construction work had been redone very quickly.
I was 25 and the most popular celebrity in the world, with the possible exception of my friend Mary Pickford.
Four hundred wickets is 400 more than I thought I'd get.