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The most common cause of low prices is pessimism — some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.

— Warren Buffett Letters to Shareholders (1957)

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The asset I most value, aside from health, is interesting, diverse, and long-standing friends.

I make no attempt to forecast the general market — my efforts are devoted to finding undervalued securities.

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People will always try to stop you doing the right thing if it is unconventional.

It's simply to say that managers and investors alike must understand that accounting numbers is the beginning, not the end, of business valuation.

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Quote text and notes from Wikiquote: Warren Buffett (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.