"The most important quality for an investor is temperament, not intellect. You don't need tons of IQ in this business. You don't have to be able to play three-dimensional chess or duplicate bridge. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd. You know you're right, not because of the position of others, but because your facts and your reasoning are right."
[Warren Buffett in Adam's Smith's Money World show, June 20, 1988]
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