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In his 2024 letter, Buffett emphasized that lasting wealth comes from identifying quality companies when they’re undervalued and then doing something that seems almost radical today—nothing. “Thanks to the American tailwind and the power of compound interest,” he wrote, “the arena in which we operate has been—and will be—rewarding if you make a couple of good decisions during a lifetime.” Warren Buffett is perhaps the most famous person who has lamented the rise in speculative trading.
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