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As a kid, Buffett would go door-to-door selling chewing gum and Coke. He’d buy six bottles for a quarter, and then sell them for a nickel each. He bought his first stock at the age of eleven. He bought a 40-acre farm at the age of fourteen using money he had saved from from a paper route.
Some of his fundamental tenets for investing are:
-Patience pays: buy ‘em and hold ‘em.
-Invest in businesses you understand.
-Look for businesses with “durable competitive advantage”.
-Look for honest, able management.
-Buy at a reasonable price.
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