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Look at the market like you're buying a business, not just a stock ticker. If you wouldn't want to own the whole company for ten years, don't own it for ten minutes. The best investment you can make is in yourself, and that's something you can control.

You know, investing isn't about getting rich quick, it's about finding wonderful businesses at fair prices. We look for companies that have strong fundamentals, honest management, and a durable competitive advantage. That's how we've done things at Berkshire for over 50 years.

Let me tell you something about patience in investing. We've been watching this particular company for over 15 years, waiting for the right price. People ask me, "Warren, why wait so long?" Well, the market always rewards those who can wait for the perfect pitch.

Look, markets are like nature - they don't care about what you want. Pain comes when you fight reality instead of understanding it. The key is to learn from every loss, every mistake. That's how you evolve, that's how you get stronger. Reality is reality.

Look at Apple - we bought our first shares at around $175 billion market cap. Today it's worth well over $2 trillion. That's the power of patience in investing. You don't need to be a genius; you need time and conviction in great businesses.

Think about competitive advantage like a moat around a castle. The wider and deeper that moat, the better protected your business is. Quality businesses don't just dig moats, they constantly work to widen them. That's how you build lasting value.

Look at the people you admire and ask yourself why. Usually, it's simple qualities like integrity and being reliable. You can choose those traits today. Investing in your own character is the smartest move you'll ever make, and that's something nobody can ever tax or take away from you.

You know, I've always said the best investment you can make is in yourself. I mean, nobody can tax it away, nobody can steal it, and if you develop good habits early on, it's like compound interest for your character, you see.