Value Investing- "Don’t gamble. Take all your savings and buy a good stock, and hold it till it goes up, then sell it. If it don’t go up, don’t buy it."
I make Homer Simpson look active.
Tim McElvaine
Value stocks are about as exciting as watching grass grow. But have you ever noticed just how much your grass grows in a week?
Christopher Browne
Based on my own personal experience – both as an investor in recent years and an expert witness in years past – rarely do more than three or four variables really count. Everything else is noise.
Martin Whitman
Investors repeatedly jump ship on a good strategy just because it hasn’t worked so well lately, and, almost invariably, abandon it at precisely the wrong time.
David Dreman
Deciding on an investment philosophy is kind of like picking a spouse. Do you want someone who is volatile and romantic and emotional, or do you want someone who is steady and trustworthy and down to earth. If you want a successful investment career, you’d better bind yourself to a style you can live with.
Ralph Wanger
Trying to sell an illiquid stock in a down market brings to mind the galley slaves in Ben-Hur, chained to their bench while the ship sinks.
Ralph Wanger
No mutual fund manager who relies on market timing has kept his job for fifteen years. Individual investors who try to time the market will be tossed on the same horns.
Ralph Wanger
I’d be a bum on the street with a tin cup if the markets were efficient
Warren Buffet
We attracted a lot of market timers and asset allocators. I don’t need those … amateurs in my fund.
Martin Whitman
The first principle is that you must not fool yourself – and you are the easiest person to fool.
Richard Feynman
I quickly convinced myself that the true key to happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.
Benjamin Graham
The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
Benjamin Graham
Don’t gamble. Take all your savings and buy a good stock, and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.
Jim Rogers
Get inside information from the president and you will probably lose half of your money. If you get it from the chairman of the board, you will lose all of it.
Jim Rogers
Timidity prompted by past failures causes investors to miss the most important bull markets.
Walter Schloss
Volatility is a symptom that people have no idea of the underlying value.
Jeremy Grantham
Unless you can watch your stock holdings decline by 50% without becoming panic-stricken, you should not be in the stock market.
Warren Buffet
Price is what you pay, value is what you get.
Charlie Munger
All intelligent investing is value investing – to acquire more than you are paying for. Investing is where you find a few great companies and then sit on your ass.
Charlie Munger
In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time – none, zero. You’d be amazed at how much Warren reads – at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.
Charlie Munger
To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
Charlie Munger
There are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money in a business that’s still going to be lousy. The money still won’t come to you. All of the advantages from great improvements are going to flow through to the customers.
Charlie Munger
People like the robber barons assumed that the doctrine of the survival of the fittest authenticated them as deserving power. You know, “I’m the richest. Therefore, I’m the best. God’s in his heaven, etc.” And that reaction of the robber barons was so irritating to people that it made it unfashionable to think of an economy as an ecosystem. But the truth is that it is a lot like an ecosystem. And you get many of the same results.
Charlie Munger
A market is the combined behavior of thousands of people responding to information, misinformation and whim.
Kenneth Chang
I hate weekends because there is no stock market.
Rene Rivkin