Investing Quotes - Page 13

All economic movements, by their very nature, are motivated by crowd psychology.

Although there are good and bad companies, there is no such thing as a good stock; there are only good stock prices, which come and go.

The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at some still higher price.

The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase.

Mr. Market's job is to provide you with prices; your job is to decide whether it is to your advantage to act on them. You no not have to trade with hime just because he constantly begs you to.

We will only do with your money what we would do with our own.

Investing is forgoing consumption now in order to have the ability to consume more at a later date.

When investing, pessimism is your friend, euphoria the enemy.

You have to invest the way that's comfortable for you.

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.

Investing today may well be harder than it has been at any time in our three decades of existence.

If the growth rate is so good that in another ten years the company might well have quadrupled, is it really of such great concern whether at the moment the stock might or might not be 35% overpriced?

There are substantial rewards for adopting a regular routine of investing and following it no matter what, and additional rewards for buying more shares when most investors are scared into selling.

I'm always fully invested. It's a great feeling to be caught with your pants up.

On the issue of inflation, I think I could solve it no matter how much money it took.

A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing their clients' money on to people who, as a whole, cannot possibly outperform the market.

The scientist rigorously defends his right to be ignorant of almost everything except his specialty.

If the data do not prove that indexing wins, well, the data are wrong.

Successful investing is about owning businesses and reaping the huge rewards provided by the dividends and earnings growth of our nation's - and, for that matter, the world's - corporations.

"If I buy stocks on Smith's tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around?

I don't know whether I make myself plain, but I never lose my temper over the stock market. I never argue with the tape. Getting sore at the market doesn't get you anywhere.

You have never lost money in stocks over any 20-year period, but you have wiped out half your portfolio in bonds (after inflation). So which is the riskier asset?

Successful investing is about having people agree with you ... later.

The Americans are good about making fancy cars and refrigerators, but that doesn't mean they are any good at making aircraft. They are bluffing. They are excellent at bluffing.

In order to be a really good investor, you need to be a little bit of a philosopher as well.