Lessons From Warren Buffett

Lessons From Warren Buffett: A Public Opinion Poll Will Not Make You Rich

In the swirling sea of investment advice, a cacophony of opinions echoes from every corner of the financial world—investors, hedge fund maestros, astute analysts, and the clamorous financial media all clamor for your attention. Amidst this tumult, Warren Buffett offers a remarkably simple yet profound prescription: pay heed to none. Instead, he exhorts the discerning investor to embark on their own voyage of financial discovery, to meticulously undertake their own due diligence. In the end, it is not the cacophony of external counsel, but the whispered wisdom of one’s own research that may prove to be the most reliable guide in the labyrinthine realm of stock markets.

“On any given day, two million shares of Coca-Cola may trade. That’s a lot of people selling, a lot of people buying. If you talk to one person, you’d hear one thing, and you’d talk to another — you really should not make decisions in securities based on what other people think,” Warren Buffett said at the 1994 Berkshire Hathaway Annual Meeting. “A public opinion poll will not get you rich on Wall Street. So you really want to stick with businesses that you feel you can somehow evaluate yourself.”

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© 2023 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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