Wisdom from Forbes’ Second Wealthiest American

21 Sep

“…The scorecard on our investment decisions will be provided by business results over [many years] and not by [stock market] prices on any given day. Just as it would be foolish to focus unduly on short-term prospects when acquiring an entire company, we think it equally unsound to become mesmerized by prospective near-term earnings or recent trends in earnings when purchasing small pieces of a company; i.e. marketable common stocks.”

– Warren Buffett, March 1978

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