In an exclusive excerpt from his upcoming shareholder letter, Warren Buffett looks back at a pair of real estate purchases and the lessons they offer for equity investors.
By Warren Buffett
FORTUNE -- "Investment is most intelligent when it is most businesslike." --Benjamin Graham, The Intelligent Investor
It is fitting to have a Ben Graham quote open this essay because I owe so much of what I know about investing to him. MOREFeb 24, 2014 5:00 AM ET
Explosive growth in demand for engagement rings in China is helping to drive prices up.
By Jen Wieczner
FORTUNE -- Gold has lost its luster -- at least as an investment. Since hitting $1,900 an ounce in the summer of 2011, the price of the shiny metal has plunged some 30%. That fall has prompted an exodus from gold-backed ETFs. But now investors are setting their sights on another precious material: diamonds.
Excitement has MOREFeb 19, 2014 11:04 AM ET
Shares are down, but not the ones you would expect.
FORTUNE -- The recent stock selloff has people once again freaked out about the market. But perhaps it shouldn't.
CNNMoney's Fear & Greed Index is now again in extreme fear territory. A month ago, the gauge of investor sentiment was stuck on greed.
The conventional wisdom is that the selloff will be short-lived. The economy is strong. The stock market, which was up MOREStephen Gandel, senior editor - Feb 5, 2014 1:09 PM ET
The panic-driven selloff has led to the buying opportunity of a lifetime.
FORTUNE -- Never underestimate the impulse for Wall Street market strategists and pundits to spin an outbreak of sudden fear into a durable trend, with a sensible-sounding narrative to back it up. So it is today with the sharp selloff in emerging market stocks and bonds. For champions of U.S. equities, indeed, the panic overseas seems a timely gift. MOREShawn Tully, senior editor-at-large - Feb 3, 2014 5:00 AM ET
With the most recent rise in postal rates, holders of Forevers saw their "portfolios" jump by 6.5% overnight.
FORTUNE -- In these days of manic-depressive financial markets, it's nice to be able to put your money into something that isn't designed to make you rich, but that at least is pretty much guaranteed to always rise in value. And that, on occasion, can post a nice tax-free gain -- most recently, MOREAllan Sloan, senior editor-at-large - Jan 31, 2014 5:00 AM ET
The online retailer has pitched the idea that it doesn't matter what it earns right now. That's led to a lot of guesswork and differing opinions.Stephen Gandel, senior editor - Jan 30, 2014 5:00 AM ET
If the investment bank was beaten by Washington, it didn't lose by much.
FORTUNE -- Goldman Sachs' announcement last week that its fourth-quarter earnings fell 19% from a year ago was greeted as a watershed moment.
New York magazine suggested Goldman (GS) bankers switch from Dom to André. The New York Times called Goldman wary, with a key unit in continued decline and facing uncertain regulations. Politico took the occasion to MOREStephen Gandel, senior editor - Jan 21, 2014 12:57 PM ET
Know your risk tolerance and threshold for pain.
By Jean Chatzky
FORTUNE -- Alison Levine is tougher than she looks. At 5'4", 110 lbs, she's not the person you'd pull out of a crowd if you were looking for someone who's tackled the so-called Adventure Grand Slam, which consists of climbing the highest peaks on all seven continents as well as skiing to both the North and South Poles. Investing -- MOREJan 21, 2014 5:00 AM ET
Buyer beware. A single year in which stocks soared and bonds tanked can throw the long-term numbers way out of whack.
FORTUNE -- Today let's have some fun with numbers. The kind that investors rely on. Which turn out to be the kind that can be skewed by their start or end dates, and that can skewer your investment portfolio if you follow them blindly.
Let's start with a key number, the MOREAllan Sloan, senior editor-at-large - Jan 15, 2014 5:00 AM ET
Already at record levels, corporate profits aren't likely to boost the S&P 500.Shawn Tully, senior editor-at-large - Jan 13, 2014 5:00 AM ET
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