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Example Quotes

“So, let us, you and I, for the sake of our brother man, individually strive by example and influence to lift the standard of thought and conduct from the low level of selfishness and self-indulgence up to the lofty realms of aspirational thought and self-denial.”

“The problem with using force in our lives is that we always create a counterforce. For example, If you're with a child and the child says, "I hate you," which is a very low energy, and you respond with, "I hate you too," you have lowered the collective energy that you are both in, and both of you will he weakened. Whereas, if you respond to, "I hate you," with love, which is what, instinctively, we know what to do, then we can dissolve and dissipate that hatred.”

“Once a price move exceeds its median historical age, any method you use to analyze the market, whether it be fundamental or technical, is likely to be far more accurate. For example, if a chartist interprets a particular pattern as a top formation, but the market is only up 10% from the last low, the odds are high that the projection will be incorrect. However, if the market is up 25% to 30%, then the same type of formation should be given a great deal more weight.”

“In my opinion, the greatest misconception about the market is the idea that if you buy and hold stocks for long periods of time, you'll always make money. Let me give you some specific examples. Anyone who bought the stock market at any time between the 1896 low and the 1932 low would have lost money. In other words, there's a 36 year period in which a buy-and-hold strategy would have lost money. As a more modern example, anyone who bought the market at any time between the 1962 low and the 1974 low would have lost money.”

“The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. But a fellow like Buffett does. For example, when we were in the textile business, which is a terrible commodity business, we were making low-end textiles-which are a real commodity product. And one day, the people came to Warren and said, "They've invented a new loom that we think will do twice as much work as our old ones."”

“Now documentary evidence is acceptable. What does that mean? If you have documentary evidence that a person served as a guard in one of the death camps and the documents have been authenticated, that is grounds to charge the person with crimes against humanity. And that's why you see the spate of trials previously, for example, in the '70s and the '80s, even in the low '90s. That was not the case until the change in the law.”