“The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do. For the investor, a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favorable business developments.”

in Investing, Warren E. Buffett, Writers

-Warren E. Buffett, 1982 Chairman’s Letter to the Shareholders of Berkshire Hathaway, Inc.

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