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The intelligent investor is a realist who sells to optimists and buys from pessimists.
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In the short run, the market is a voting machine. In the long run, it is a weighing machine.
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The stock investor is neither right nor wrong because others agreed or disagreed with him; he is right because his facts and analysis are correct.
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The investor's chief problem — and his worst enemy — is likely to be himself.
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To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.