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Twenty Six Market Wisdoms from Warren Buffett

1. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.26WB

2. Chains of habit are too light to be felt until they are too heavy to be broken.

3. Risk comes from not knowing what you’re doing.

4. Only when the tide goes out do you discover who’s been swimming naked.

5. If past history was all there was to the game, the richest people would be librarians.

6. I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

7. It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price

8. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful

9. Time is the friend of the wonderful business, the enemy of the mediocre. (more…)