As mentioned in previous articles, I love inspirational (and other) quotes. I see quotes as a portal to someone’s inner self. They reveal much about the person both good and bad. Read enough of a person’s quotes and you will get to know the person. Let’s spend some time getting to know Warren Buffett through his quotes.
True success does not come from copying what everyone else is doing. You Can’t Beat the Herd by Following the Herd.
When buying a dividend stock, the quality of the company is the number one consideration. Given enough time, a quality company will always rise above lesser competition. When your holding period is forever, it is inevitable that a superior stock will eventually out-perform second tier players. Buffett has used the quality + time formula for decades.
With the internet, everyone has access to massive amounts of financial data on public companies. Never confuse data with information - the former takes up space while the latter is useful. Your stock evaluation process should include quantitative and qualitative analysis. While it is important to understand how a company has performed using a quantitative analysis, it is more important to determine how the company will perform in the future using a qualitative analysis. This is much more difficult since no internet site provides an instant glimpse into the future.
Have a plan for managing risk. Buffett has spent a lifetime perfecting his process and abilities. Though he shuns diversification, we would be wise not to do so until our abilities are on par with his.
Life is much more than just making money. The above rings true in so many aspects of our lives. Success is measured in many different ways.
Over time we make all things overly difficult and complex. Sometimes it is good to step back, focus on the basics and avoid the needless mistakes.
Life is a journey. Find something you love and enjoy the trip! We can all learn something from like-minded individual who have been successful in their field. Still wanting more Buffett quotes?
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