Too many people say to their brokers, I can't deal with this. Take my money. Do what you want. That's the worst attitude you can have.
Sentiment: NEGATIVE
The more you talk about investing problems, the worse you feel. Instead of complaining, it's better to do something.
When it comes to investing, you are your own worst enemy.
Hundreds of investors ask me questions each year about the dilemmas they confront. Their worst problem? Uncertainty. They are traumatized and become emotional or confused to the state of inaction. Even worse, they try to solve a short-term problem in a way that hurts them financially in the long run.
Always go into meetings or negotiations with a positive attitude. Tell yourself you're going to make this the best deal for all parties.
There are no absolutes in this world, and there will always be mistakes that are made within brokerage firms; there will always be people who set out to deceive the regulators and even deceive their own senior management.
I'm sometimes accused of being hostile to mutual funds. That's not fair, really. There is a place for them. Still, I am hostile to one thing, which is trying to use funds to time your way in and out of the market. That's a recipe for very bad results.
I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics than bad.
If the response you finally receive from me is 'thanks but no thanks', then please accept at face value that I would really not be the right investor for you. You've got to trust me on this, and in this case take 'no' for an answer.
I don't like that I'm my own commodity, that I am what I sell.
I do not regard a broker as a member of the human race.
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