BMO Nesbitt Burns
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Lessons from the Oracle of Omaha
What to do when markets get rough?
Volatility? . . . Warren Buffett offers three steps
1)Turn "off” the stock market
2)Don’t worry about the economy
3)Buy businesses, not stocks
Warren's Memorable Quotes:
"The basic ideas of investing are to look at stocks as businesses, use market fluctuations to your advantage, and seek a margin of safety.”
"It’s bad to go to bed at night thinking about the ‘price’ of a stock. We think about the ‘value’ and company results. The stock market is there to serve you, not instruct you.”
"Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be mis-appraised.”
"We don’t have to be smarter than the rest, we have to be more disciplined than the rest.”
"Be fearful when others are greedy . . .and greedy only when others are fearful.”
Source: The Warren Buffett Way, Robert G. Hagstrom 2005