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The most important thing you can do is to know what you don't know.
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If you can't explain what a company does, how it makes money, and why it will keep growing in three sentences, you shouldn't own it.
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I came to America with forty dollars. Everything I have, I earned by understanding businesses better than the people selling them.
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You must know the commodity you are trading better than anyone else in the room. If you do not, leave the room.