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"The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform."
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"It is not true that people are naturally equal for no two people can be together for even a half an hour without one acquiring an evident superiority over the other."

"He makes people pleased with him by making them first pleased with themselves."

"People are always good company when they are doing what they really enjoy."

"Prune - prune businesses, products, activities, people. Do it annually."

"Some people bear three kinds of trouble - the ones they've had, the ones they have, and the ones they expect to have."
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"I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives."

"I think one of the important things that's happened in the course of the century is that life expectancy has doubled."

"The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance."

"Partly because his life ended before the age of 50, Hamilton was defined by the other founding fathers, and he managed, with amazing consistency, to alienate most of them."

"I don't think that a mutual fund that invests exclusively in biotech start-ups or invests exclusively in companies in Thailand offers any great safety or diversification."

"The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before."

"In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks."

"By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity."

"A lot of the money in the stock market is really our national retirement plan, for better or worse."
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