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Tuesday, 11 June 2013

My Favourite Quotes

"Don't try to be like Warren Buffet. You can't be Warren Buffet and, if you try, you will suffer. Understand Buffet's ideas and then take those ideas and integrate them into your own approach to investing." - Kenneth L. Fisher

"It is not enough to have good intelligence, the principal thing is to apply it well." - Descartes

"Buying share in a company without taking the time to develop a thorough understanding of the business is far more risky than having limited diversification." - Philip A. Fisher on his view on diversification

"You are neither right or wring because the crowd disagrees with you. You are right because your data and reasoning are right." - Benjamin Graham

"Success is the ability to go from one failure to another with no loss of enthusiasm." - Winston Churchill

"Volatility is a symptom that people have no idea of the underlying value" - Jeremy Grantham

"All intelligent investing is value investing - to acquire more than you are paying for. Investing is where you find a few great companies and then sit on your ass." - Charlie Munger

"In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time - none, zero. You'd be amazed at how much Warren reads - at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out." - Charlie Munger

"Price is what you pay, value is what you get" - Charlie Munger

"It is hard to make predictions, especially about the future." - Yogi Berra

"In theory there is no difference between theory and practice. In practice there is." Yogi Berra

"Based on my own personal experience - both as an investor in recent years and an expert witness in years past - rarely do more than three or four variables really count. Everything else is noise." - Marty Whitman

"Not everything that can be counted counts, and not everything that counts can be counted." - Albert Einstein

"The first principle is that you must not fool yourself - and you are the easiest person to fool." - Richard Feynman

"The stock market is filled with individuals who know the price of everything, but the value of nothing." - Philip Fisher

"A government big enough to give you everything you want is strong enough to take everything you have." - Thomas Jefferson

"Get inside information from the president and you will probably lose half of your money. If you get it from the chairman of the board, you will lose all of it." - Jim Rogers

"There are two times in a man's life when he should not speculate - when he can't afford it and when he can." - Mark Twain

"Timidity prompted by past failures causes investors to miss the most important bull markets." - Walter Schloss

"Yes, risk-taking is inherently failure-prone. Otherwise, it would be called sure-thing taking." - Tim McMahon

"Investors repeatedly jump ship on a good strategy just because it hasn't worked so well lately, and, almost invariably, abandon it at precisely the wrong time." - David Dreman

"Value stocks are about as exciting as watching grass grow. But have you ever noticed just how much your grass grows in a week?" - Christopher Browne

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