Excerpt From Summary of Mary Buffett & David Clark's Warren Buffett and the Interpretation of Financial Statements
#1
Warren Buffett is the richest man in the world. He is worth more than $70 billion. He is well known for his investment strategy of buying companies with durable competitive advantages.
#2
Wall Street has long been a haven for gamblers and speculators who place bets on the direction of stock prices. The best of this new generation of gamblers have developed complex computer programs that measure the velocity of how fast a stock price is either rising or falling.
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