Summary of “12 Warren Buffett quotes that’ll make you smarter about your money”

Yahoo Finance will host the live stream of Berkshire Hathaway’s shareholder meeting on May 6, 2017.When Warren Buffett speaks, the investing world listens.
Ranging from the reliability of index funds to the perils of credit card debt to the importance of basic investing principles, here’s a sampling of how Buffett thinks.
Investing isn’t too complicated, but know what you’re investing in”Intelligent investing is not complex, though that is far from saying that it is easy. What an investor needs is the ability to correctly evaluate selected businesses. Note that word ‘selected’: You don’t have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries is vital.”
The term “Value investing” is redundant”We think the very term ‘value investing’ is redundant. What is ‘investing’ if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value – in the hope that it can soon be sold for a still-higher price – should be labeled speculation.”
On the other hand, if you get ahead of the game, even on a modest scale, so that money is coming in from investing and people owe you money or equities owe you ownership, you’ll be way ahead of the game as opposed to you owing your creditors every month.
Borrowed money has no place in the investor’s toolkit: Anything can happen anytime in markets.
Passive investing will make you more money than active trading”Our portfolio shows little change: We continue to make more money when snoring than when active.
Seriously, you cannot go wrong investing in index funds”Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees.

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