In the great majority of cases we simply do not know enough about the industry or company to come to sensible judgments-in that situation we pass.
Warren BuffettA lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.
Warren BuffettAs one of my older friends says, "Nostalgia just isn't what it used to be." Let's take a stab at it, anyway.
Warren BuffettWhat motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As 'bandwagon' investors join any party, they create their own truth - for a while.
Warren Buffett