“Many commentators…are fond of saying that the small investor has no chance in a market now dominated by the erratic behavior of the big boys. This conclusion is dead wrong: Such markets are ideal for any investor—small or large—so long as he sticks to his investment knitting. Volatility caused by money managers who speculate irrationally with huge sums will offer the true investor more chances to make intelligent investing moves. He can be hurt by such volatility only if he is forced, by either financial or psychological pressures, to sell at untoward times.”

in Investing, Warren E. Buffett, Writers

-Warren E. Buffett, 1987 Chairman’s Letter to the Shareholders of Berkshire Hathaway, Inc.

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