Quotes of All Topics . Occasions . Authors
The market is a very emotional place that appeals to fear and greed.
Sell is tough. It's the worst, it's the most difficult thing of all.
We get a feeling, if we can, about what we think the company is worth.
Ben was a very simple straightforward man with a brilliant quick mind.
I found that it was much better to look at the figures rather than people.
All the publicity about value investing - it's become a very popular thing.
I helped Ben with the third edition of Security Analysis, published in 1951.
By setting up Berkshire Hathaway, Warren has done everything very rationally.
Ben didn't want to lose money. He had had a rough time during the depression.
Be aware of the level of the stock market. Are yields low and PE ratios high?
Ben's emphasis was on protecting his expectation of profit with minimum risk.
Most look at earnings and earnings potential, well I can't get into that game.
Warren is a very good judge of people and he's a very good judge of businesses.
Don't be afraid to be a loner but be sure that you are correct in your judgement.
We may buy a little bit of a stock, to get our feet wet and get a feeling for it.
My first job at Graham-Newman was to prepare the annual report for that 10th year.
Stockbrokers aren't too interested in a stock you can sit there for five years with.
Use book value as a starting point to try and establish the value of the enterprise.
I agree with Warren to keep it simple and not use higher mathematics in your analysis.
You have to be a little aware of the emotions of the people who have invested with you.
If there are not too many value stocks that I can find, the market isn't all that cheap.
I was in Graham's office the day he bought GEICO. Warren owns one-third of the stock today.
When you buy a depressed company it's not going to go up right after you buy it, believe me.
Timidity prompted by past failures causes investors to miss the most important bull markets.
I'm a passive investor. There are people who are very aggressive; they try to buy companies.
Ben was really a contrarian but he didn't use those terms because he was really buying value.
Each year we buy stocks and they go up, we sell them and then we try to buy something cheaper.
Remember that a share of stock represents a part of a business and is not just a piece of paper.
If the market is so cheap, you want to get something with a little more zip in it, or potential.
Ben was a great believer in buying a diversified group of securities, so that he limited his risk.
Fear and greed are probably the worst emotions to have in connection with the purchase and sale of stocks.
Basically, we try to buy value expressed in the differential between its price and what we think its worth.
Make sure you have the courage to stay true to your convictions and not let the market affect your emotions.
Before selling, try to re-evaluate the company again and see where the stock sells in realtion to its book value.
A lot of companies have lots of assets tied up in plant and equipment. Well, is it old plant, or is it new plant?
We like to buy stocks which we feel are undervalued and then we have to have the guts to buy more when they go down.
We basically followed the idea of buying comapnies selling below working-capital - at two thirds of working-capital.
When it comes to investing, my suggestion is to first understand your strengths and weaknesses, and then devise a simple strategy so that you can sleep at night!
If you are honest, hardworking, reasonably intelligent and have good common sense, you can do well in the investment field as long as you are not too greedy and don't get too emotional when things go against you.