Stocks

Rational

I like Marty Zweig. He uses excellent risk control. Unlike some other gurus, he doesn’t believe he is predicting the future; he is simply observing what is happening and making rational bets. Bruce S. Kovner – American investor, hedge fund manager, and philanthropist (b. 1945), on Martin "Marty" Zweig (American stock investor, investment adviser, and financial analyst, 1942-2013), from an...

Investing

The secret to investing is to figure out the value of something – and then pay a lot less. Joel Greenblatt - American hedge fonds manager and honorary professor at Columbia University (b. 1957), from "The Big Secret for the Small Investor: A New Route to Long-Term Investment Success" (2011)

Contrary investment

I am particularly keen on investment theses that the market is reluctant to accept. These are usually the strongest. Remember the saying, "The market climbs a wall of worry." George Soros – American macro hedge fonds manager and philanthropist (b. 1930), from "Soros on Soros: Staying Ahead of the Curve" (1995)

Investing big

The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don't. It's just that simple. Charlie Munger - Vice Chairman of Berkshire Hathaway (b. 1924)

Patience

I often compare the craft of a money manager with that of a gardener: To have a great garden takes decades, not a few months. To successfully grow great trees and flowers, you have to understand your environment and capabilities (you can't grow the same flowers in Quebec than in Florida). You have to know the soil, the temperatures, the orientation of the sun, etc. And to build a garden is a...

Patience pays off

The stock market is a device for transferring money from the impatient to the patient. Warren Buffett – American value investor, Chairman of Berkshire Hathaway (b. 1930)

Take a good look

The naked eye sees ten good investments. The trained eye sees one. slogan by "State Street Global Advisors" - asset manager from Boston, Massachusetts, USA, Quotations book 2022

Stock Picking

- First-class management with a proven record of keeping its word. - Does innovative research and uses technology to maximum advantage. - Operates abroad as well as at home. (Growth via overseas expansion) - Sells products and services that don’t become obsolete. - Insiders own a large chunk of shares and have a personal stake in the company’s success. - Company deliver strong returns on...

Understanding risk

The intelligent investor realizes that stocks become more risky, not less, as their prices rise, and less risky, not more, as their prices fall. The intelligent investor dreads a bull market, since it makes stocks more costly to buy. And conversely (so long as you keep enough cash on hand to meet your spending needs), you should welcome a bear market, since it puts stocks back on sale. Jason...

Stocks

Buy a stock if you wish the company to be yours - not if you wish the stock to go up. Warren Buffett - American value investor, Chairman of Berkshire Hathaway (b. 1930), Quotations book 2022

Right investment choice

1. Pick winners by a research process that reflects your values and beliefs. 2. Back them with conviction. 3. Avoid behavioral biases that lead to poor selling like lazy trades (not thought through). 4. Make sure your long-term positions are not past their sell date. Rick di Mascio – British portfolio manager, CEO: Inalytics (b. 1957)

Intelligent investors

Intelligent Investors try to separate their emotions of hope, fear, and greed from their trust in reason, and then expect that wisdom will prevail over the long term. Hope, fear, and greed go along with the volatile market of short-term expectations, while trust in reason goes with the real market of long-term intrinsic value. In this sense, long-term investors must be philosophers rather...

Invest

All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies. Warren Buffett - American value investor, Chairman of Berkshire Hathaway (b. 1930), from "Warren Buffett Triples Profits", "New York Post" (May 14, 1994), Quotations book 2020

Longterm

If, when making a stock investment, you"re not considering holding it at least ten years, don"t waste more than ten minutes considering it. Warren Buffett - American value investor, Chairman of Berkshire Hathaway (b. 1930), Quotations book 2020

Think like an owner

Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a prospective owner. Warren Buffett - American value investor, Chairman of Berkshire Hathaway (b. 1930)

Unpredictable stock market

If you believe you or anyone else has a system that can predict the future of the stock market, the joke is on you. Ralph Wanger - American fund manager (b. 1934), from "A Zebra in Lion Country" (1999)

Endurance

Time is your friend, impulse is your enemy. John C. Bogle - American author and founder of The Vanguard Group and the world’s first index mutual fund (b. 1929)

Be prepared

If you have trouble imagining a 20% loss in the stock market, you shouldn"t be in stocks. John C. Bogle - American author and founder of The Vanguard Group and the world’s first index mutual fund (1929-2019)