Those who can not adjust to change will be swept aside by it. Those who recognize change and react accordingly will benefit.
Bottoms in the investment world don’t end with four-year lows; they end with 10- or 15-year lows.
If everyone thinks one way, it is likely to be wrong. If you can figure out that it is wrong, you are likely to make a lot of money.
The price of a commodity will never go to zero. When you invest in commodities futures, you’re not buying a piece of paper that says you own an intangible piece of company that can go bankrupt.
Most successful investors, in fact, do nothing most of the time.
Buy low and sell high. It’s pretty simple. The problem is knowing what’s low and what’s high.
Following what everyone else is doing is rarely a way to get rich.
If you want to make a lot of money, resist diversification.
The biggest public fallacy is that the market is always right. The market is nearly always wrong. I can assure you of that.
You will never get anywhere if you do not do your homework.
If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia.
I cannot invest the way I want the world to be; I have to invest the way the world is.
History shows that people who save and invest grown and prosper, and the others deteriorate and collapse.
It’s a lot of fun finding a country that nobody knows about. The only thing better is finding a country everybody’s bullish on and shorting it.
I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.
My basic advise is don’t lose money.
The last leg of a bull market always ends in hysteria; the last leg of a bear market always ends in panic.
I haven’t met a rich technician.
Historically, there has been a bull market in commodities every 20 or 30 years.