The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
If I taught a class, on my final exam I would take an Internet company and ask, ‘How much is this company worth?’ Anyone who would answer, I would flunk.
Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
Banking is very good business if you don’t do anything dumb.
Investment philosophy is the clear understanding that by owning shares of stocks, one owns businesses, not pieces of paper.
An investor needs to do very few things right as long as he or she avoids big mistakes.
It’s not debt per se that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.
A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.
I don’t read economic forecasts. I don’t read the funny papers.
You do not adequately protect yourself by being half awake when others are sleeping.
Valuing a business is part art and part science.
Read Ben Graham and Phil Fisher read annual reports, but don’t do equations with Greek letters in them.
With enough insider information and a million dollars, you can go broke in a year.
If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks more cheaply to your portfolio.
If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn’t have anybody. I want a government that is responsive to the people who got the short straw in life.
It’s much easier to stay out of trouble now than to get out of trouble later.
Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you’re still around to play the next day.
If, when making a stock investment, you’re not considering holding it at least ten years, don’t waste more than ten minutes considering it.
Money will not change how healthy you are or how many people love you.
What’s hot today isn’t likely to be hot tomorrow. The stock market reverts to fundamental returns over the long run. Don’t follow the herd.