Quotes of All Topics . Occasions . Authors
Stocks can be dynamite.
High valuations entail high risks.
Buy not on optimism, but on arithmetic.
Do not let anyone else run your business
Always buy your straw hats in the Winter
At heart, "uncertainty" and "investing" are synonyms.
Wall Street people learn nothing and forget everything.
Confusing speculation with investment is always a mistake.
Investing is most intelligent when it is most businesslike.
Successful investing is about managing risk, not avoiding it.
To be an investor you must be a believer in a better tomorrow.
The modern world is not geared properly to the storage of goods.
Abnormally good or abnormally bad conditions do not last forever.
Why should the cotton growers suffer if there is shortage of wheat?
Diversification is an established tenet of conservative investment.
The only thing you should do with pro forma earnings is ignore them.
A great company is not a great investment if you pay too much for the stock.
Never buy a stock because it has gone up or sell one because it has gone down.
The memory of the financial community is proverbially and distressingly short.
The investor's chief problem - and even his worst enemy - is likely to be himself.
An investor calculates what a stock is worth, based on the value of its businesses.
The intelligent investor is a realist who sells to optimists and buys from pessimists.
It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.
It is absurd to think that the general public can ever make money out of market forecasts.
Whether we like it or not, government intervention in the face of surplus is here to stay.
Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.
The value of any investment is, and always must be, a function of the price you pay for it.
You must never delude yourself into thinking that you're investing when you're speculating.
The sillier the market's behavior, the greater the opportunity for the business like investor.
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
The essence of investment management is the management of risks, not the management of returns.
Both individual skill (art) and chance are important factors in determining success or failure.
The best values today are often found in the stocks that were once hot and have since gone cold.
Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
Individuals who cannot master their emotions are ill-suited to profit from the investment process.
If fees consume more than 1% of your assets annually, you should probably shop for another adviser.
Good managements produce a good average market price, and bad managements produce bad market prices.
The intelligent investor is likely to need considerable will power to keep from following the crowd.
Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
Investing isn't about beating others at their game. It's about controlling yourself at your own game.
The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.
A speculator gambles that a stock will go up in price because somebody else will pay even more for it.
Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before.
Never mingle your speculative and investment operations in the same account nor in any part of your thinking.
A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.
There is a close logical connection between the concept of a safety margin and the principle of diversification.
It's nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings.
The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.