Kiet Huynh

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The NYSE survey showed that, as of 1970, one third of investors had bought their first stock sometime after 1965. Others came in after 1970, when it seemed that the market had bottomed. Because Buffett had the cash to buy when stocks were cheap—and refrained from buying when they were expensive—his returns rose consistently from 1973 to 1982 (see table below).
Bull!: A History of the Boom and Bust, 1982–2004
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