It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
You only have to do a very few things right in your life so long as you don't do too many things wrong.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
The difference between successful people and really successful people is that really successful people say no to almost everything.
Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
Your premium brand had better be delivering something special, or it's not going to get the business.
Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.
Never depend on single income. Make investment to create a second source.
I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
Wide diversification is only required when investors do not understand what they are doing.
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