Words of Wisdom
Benjamin Graham:
- “Mr. Market is very obliging indeed. Every day he tells you what he thinks your interest is worth.”
- “The determining trait of the enterprising … investor is his willingness to devote time and care to the selection of securities that are both sound and more attractive than the average.”
- “A serious investor is not likely to believe that the day-to-day or even month-to-month fluctuations of the stock market make him richer or poorer.”
- “The intelligent investor is likely to need considerable will power to keep from following the crowd.”
- “In the short run, the market is a voting machine but in the long run it is a weighing machine.”
- “You are neither right nor wrong because people agree with you.”
- “The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.”
Warren Buffett:
- “You want to learn from experience, but you want to learn from other people’s experience when you can.”
- “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
- “The market, like the Lord, helps those who help themselves. But like the Lord, the market does not forgive those who know not what they are doing”.
- “You should invest in a business that even a fool can run, because someday a fool will.”
- “Investing is simple, but not easy.”
- “We simply attempt to be fearful when others are greedy and greedy only when others are fearful.”
Peter Lynch:
- “The best stock to buy may be the one you already own.”
- “I think you have to learn that there’s a company behind every stock, and that there’s only one real reason why stock go up. Companies go from doing poorly to doing well or small companies grow to large companies.”
- “Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.”
- “The person that turns over the most rocks wins the game. And that’s always been my philosophy.”
- “Don’t overestimate the skill and wisdom of professionals.”
John Maynard Keynes:
- “Markets can remain irrational longer than you can remain solvent.”
- “Successful investing is anticipating the anticipations of others.”
- “When the facts change, I change my mind. What do you do, sir?”
- “It is better to be roughly right than precisely wrong.”
Charlie Munger:
- “All intelligent investing is value investing – to acquire more than you are paying for.”
- “Price is what you pay, value is what you get.”
- “Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.”
- “The opulence at the head office is often inversely related to the financial substance of the firm.”
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