There are bulls and bears, and also ducks. When Warren Buffett warned against being a stock market duck

Warren Buffett mentioned a metaphor that should haunt every investor who has ever felt clever during a rising market: The preening duck that quacks boastfully after a rainstorm, convinced that its paddling skills have caused it to rise in the world. The duck is wrong. And so, Buffett suggested, are most investors who congratulate themselves in a bull market.

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