Warren Buffett and critical thinking

These days the stock market is always in the local news. Warren Buffett is of course a great investor (and I think even more admirable as a philanthropist), but it is nice to hear that he sees critical and independent thinking as the basis of his success:

From http://www.gurufocus.com/news.php?id=4388

I asked Buffett about the state of the securities markets in the U.S. going forward and how they will compare to the period in which he operated and how he could make 50% or more per year…

Buffett : “It’s a structural issue…yes, with a small sum like a million dollars, I could make 50% or more a year. The key is rationality. There are always going to be times when humans act irrational and this is time to make your money. I’ve made a career of cashing in when people act irrational.”

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