Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
The four most dangerous words in investing are: “This time it’s different”.
–Sir John Templeton
Wide diversification is only required when investors do not understand what they are doing.
The stock market is filled with individuals who know the price of everything, but the value of nothing.
Everyone has the brainpower to make money in stocks. Not everyone has the stomach.
Be fearful when others are greedy. Be greedy when others are fearful.
Investing is not supposed to be easy. Anyone who finds it easy is stupid.
An investment in knowledge pays the best interest.
Rule number one: Don’t lose money. Rule number two: Don’t forget rule number one.
People don’t like the idea of thinking long term. Many are desperately seeking short term answers because they have money problems to be solved today.
If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.
If I’d only followed CNBC’s advice, I’d have a million dollars today. Provided I’d started with a hundred million dollars.
Unless you can watch your stock holding decline by 50% without becoming panic stricken, you should not be in the stock market.
The investor’s chief problem and even his worst enemy is likely to be himself.
More money has been lost trying to anticipate and protect from corrections than actually in them.
The most dangerous thing is to buy something at the peak of its popularity. At that point, all favourable facts and opinions are already factored into its price and no new buyers are left to emerge.
The intelligent investor is a realist who sells to optimists and buys from pessimists.
The most important quality for an investor is temperament, not intellect.
Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.
If you don’t stay with your winners, you are not going to be able to pay for the losers.
–Jack D. Schwager
”Prices are too high” is far from synonymous with “The next move will be downward.” Things can be overpriced and stay that way for a long time … or become far more so.
Games are won by players who focus on the playing field – not by those whose eyes are glued to the scoreboard.
Know what you own, and know why you own it.
On the other hand, investing is a unique kind of casino — one where you cannot lose in the end, so long as you play only by the rules that put the odds squarely in your favour.
If you aren’t thinking about owning a stock for ten years, don’t even think about owning it for ten minutes.
Big companies have small moves, small companies have big moves.
Derivatives are financial weapons of mass destruction.
If a man didn’t make mistakes he’d own the world in a month. But if he didn’t profit by his mistakes he wouldn’t own a blessed thing.
The individual investor should act consistently as an investor and not as a speculator.
To be an investor you must be a believer in a better tomorrow.
Go for a business that any idiot can run – because sooner or later, any idiot probably is going to run it.
Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
The wise man puts all his eggs in one basket and watches the basket.
Never let a poor man advise you on your investments.