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What Warren Buffett said on fear and greed ?

What Warren Buffett said on fear and greed ?

In his 1986 annual letter to Berkshire Hathaway's shareholder Buffett said very interesting thing about fear and greed. He also accepting that anticipating market is always out of his circle of competence. For me these lines are the best lines of 1986 letter. So I putting whole para as it is in front of you. please read-

"What we do know, however, is that occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics will be unpredictable. And the market aberrations produced by them will be equally unpredictable, both as to duration and degree. Therefore, we never try to anticipate the arrival or departure of either disease. Our goal is more modest: we simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."

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