We don't have to be smarter than the rest. We have to be more disciplined than the rest.— Warren Buffett
Most Powerful Investors quotations
Do not save what is left after spending, but spend what is left after saving.
A good portfolio is more than a long list of good stocks and bonds.
It is a balanced whole, providing the investor with protections and opportunities with respect to a wide range of contingencies.
I think that the failures of Enron and WorldCom and other companies are partially failures of investors to recognize companies that are selling for a thousand times nothing, but chances are they may be worth only that.
My philosophy is that all stocks are bad.
There are no good stocks unless they go up in price. If they go down instead, you have to cut your losses fast Letting losses run is the most serious mistake made by most investors.
Markets can remain irrational longer than you can remain solvent.
It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong
When running a Ponzi scheme, how does one avoid enormous, unexpected withdrawals - runs on the bank, so to speak - that would pull back the curtain and reveal a little man blowing smoke? One way would be to attract a core of investors who could be counted on to never withdraw more than a small percentage of principal each year.
Wide diversification is only required when investors do not understand what they are doing.
The intelligent investor is a realist who sells to optimists and buys from pessimists.
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
In questioning initially whether I am a great investor, I open the door to question whether other similarly esteemed public icons like Bill Miller are as well. It seems, perhaps, that the longer and longer you keep at it in this business the more and more time you have to expose your Achilles heel - wherever and whatever that might be.
I’ve learned many things from him [George Soros], but perhaps the most significant is that it’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
The probability of ten consecutive heads is 0.
1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
The single greatest edge an investor can have is a long-term orientation.
I think the value of venues like CNBC is that they give investors an opportunity to reevaluate the situation minute by minute, but maybe we don't need to follow the market so closely.
It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their real value is recognized.
Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.
If you are going to be a great investor, you have to fit the style to who you are.
The true investor... will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.
Some foreign investors accuse us of being unfair to shareholders by using our resources for community development. Yes, this is money that could have made for dividend payouts, but it also is money that's uplifting and improving the quality of life of people in the rural areas where we operate and work. We owe them that.
Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.
If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
Most investors are pretty smart. Yet most investors also remain heavily invested in actively managed stock funds. This is puzzling. The temptation, of course, is to dismiss these folks as ignorant fools. But I suspect these folks know the odds are stacked against them, and yet they are more than happy to take their chances.
When I read in Fortune magazine that Warren Buffet, the billionaire investor and one of the world's richest men, was investing in a direct sales (network marketing) company, I decided I was missing something.
And if you're going to be a leader, you know what I ask myself? Would I want to work for you in this job? Would I let my children work for you? Would I give you this job if I wasn't there to provide oversight? If you went to run another company, would I, as an investor, invest in that company?
Having a financial adviser enables the investor to carry a psychological call option. If the investment decision turns out well, the investor takes the credit, and if it turns out badly, the regret can be lowered by blaming the adviser.
Nothing turns off an investor more than when an entrepreneur comes in with a ridiculous valuation.
Surprise! The returns reported by mutual funds aren't actually earned by mutual fund investors.
The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. They assume that something that was a good investment in the recent past is still a good investment. Typically, high past returns simply imply that an asset has become more expensive and is a poorer, not better, investment.
Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
I'm only rich because I know when I'm wrong.
If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.
The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
The true investor welcomes volatility .
.. a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.