"Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results." - Warren Buffett
"...it is not necessary to do extraordinary things to get extraordinary results." - Warren Buffett
"An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business." - Warren Buffett
"Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." - Warren Buffett
"An investor needs to do very few things right as long as he or she avoids big mistakes." - Warren Buffett
"...a great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable, problem as was the case many years back at both American Express and GEICO. Overall, however, we've done better by avoiding dragons than by slaying them." - Warren Buffett
"With enough inside information and a million dollars you can go broke in a year." - Warren Buffett
Sounds simple and straightforward enough even if it's not always easy to do.
Not staying within one's limits, cognitive biases, and the wrong kind of temperament often get in the way.
Adam
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