It's a relaxing Saturday, after went for my haircut (get ready for the Chinese New Year) and got reminded of my resemblance with a famous cartoon character (by the hair stylist), I am back to my desk now and blogging my way...;-)
I like to read, especially like those books with relevant inspiring quotes as pre-sharing before every chapter. Taking Charge With Value Investing (by Brian Nichols) is one such book which I am currently reading. While I am still half-way through the book, I thought some of the Value Investing related quotes quoted in the book are worth sharing here.
I believed many of you folks are familiar with them (if you are an avid reader yourself) but no harm re-visiting them to keep ourselves on track right? ;-)
1. "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway" ~~ Warren Buffet
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| Warren Buffet |
2. "I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years" ~~ Warren Buffet
3. "Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down" ~~ Warren Buffet
4. "The stock market is filled with individuals who know the price of everything, but the value of nothing" ~~ Phillip Fisher
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| Phillip Fisher |
5. "Although it's easy to forget sometimes, a share is not a lottery ticket... it's part-ownership of a business" ~~ Peter Lynch
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| Peter Lynch |
6. "Know what you own, and know why you own it" ~~ Peter Lynch
7. "Everyone has the brainpower to make money in stocks. Not everyone has the stomach. If you are susceptible to selling everything in panic, you ought to avoid stocks and mutual fund altogether" ~~ Peter Lynch
8. "Be fearful when others are greedy and greedy only when others are fearful" ~~ Warren Buffet
9. "Every once in a while, the market does something so stupid it takes your breath away" ~~ Jim Cramer
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| Jim Cramer |
10. "The investor's chief problem - and even his worst enemy - is likely to be himself" ~~ Benjamin Graham
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| Benjamin Graham |
11. "Much success can be attributed to inactivity. Most investors cannot resist temptation to constantly buy and sell" ~~ Warren Buffet
12. "The key to making money in stocks is not to get scared out of them" ~~ Peter Lynch
13. "A big part of being strong financially is that you know where you are weak and take action to make sure you don't fall prey to the weakness. And we ALL are weak" ~~ Dave Ramsey
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| Dave Ramsey |
14. "Wide diversification is only required when investors do not understand what they are doing" ~~ Warren Buffet
15. "An investment in knowledge always pays the best interest" ~~ Benjamin Franklin
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| Benjamin Franklin |
Personally, I like #10 the best, what about you?
Cheers!
Hi Richard
ReplyDeleteSuper good quotes.
I personally like number 2 and 4 most. I think it kinda resonates with what I am thinking right now.
B : thanks.. Enjoy ur outing with little Oscar ;-)
DeleteFrom Peter Lych:
ReplyDeleteYou don't need a lot in your lifetime. You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot.
I think the secret is if you have a lot of stocks,
some will do mediocre,
some will do okay, and
if one of two of 'em go up big time,
you produce a fabulous result.
And I think that's the promise to some people.
Some stocks go up 20-30 percent and they get rid of it and they hold onto the dogs. And it's sort of like watering the weeds and cutting out the flowers. You want to let the winners run.
When the fun ones get better, add to 'em, and that one winner, you basically see a few stocks in your lifetime, that's all you need.
I mean stocks are out there. When I ran Magellan, I wrote a book. I think I listed over a hundred stocks that went up over ten-fold when I ran Magellan and I owned thousands of stocks. I owned none of these stocks.
I missed every one of these stocks that went up over ten-fold. I didn't own a share of them. And I still managed to do well with Magellan. So there's lots of stocks out there and all you need is a few of 'em. So that's been my philosophy. You have to let the big ones make up for your mistakes.
In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten. This is not like pure science where you go, "Aha" and you've got the answer. By the time you've got "Aha," Chrysler's already quadrupled or Boeing's quadrupled. You have to take a little bit of risk.
Cw8888 : welcome back.. And thanks for the super long comment (via Peter Lynch) ;-)
Delete#4 & #11 are the best
ReplyDeleteDuliip T Mehta : Thanks for dropping by and comment.
Delete