Re: {LONGTERMINVESTORS} Investment Quotes from Legends: thread
RAJESH DESAI
Your Quote for today is :
The only significant meaning of price fluctuations for the true investor is to provide an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the market and pays attention to dividends and operating results.
- Ben Graham
Have a spectacular day today.
Good morning,
Your Quote for today is :
A company that does boring things is almost as good as a company that has a boring name, and both together is terrific… when it becomes trendy and overpriced, you can sell your shares to the trend-followers.
- Peter LynchHave a spectacular day today.
Happy Diwali to all.
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CA. Rajesh Desai
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CA. Rajesh Desai
RAJESH DESAI
Your Quote for today is :
An investor should never buy a stock because it has gone up or sell one because it has gone down. He would not be far wrong if this motto read more simply: "Never buy a stock immediately after a substantial ries or sell one immediately after a substantial drop."
- Ben Graham
Have a spectacular day today.
Good morning,
Your Quote for today is :
The only significant meaning of price fluctuations for the true investor is to provide an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the market and pays attention to dividends and operating results.
- Ben Graham
Have a spectacular day today.
--On Wed, Oct 26, 2011 at 10:03 AM, RAJESH DESAI <stock...@gmail.com> wrote:
Good morning,
Your Quote for today is :
A company that does boring things is almost as good as a company that has a boring name, and both together is terrific… when it becomes trendy and overpriced, you can sell your shares to the trend-followers.
- Peter LynchHave a spectacular day today.
Happy Diwali to all.
--
CA. Rajesh Desai
CA. Rajesh Desai
CA. Rajesh Desai
RAJESH DESAI
The prices of stocks are not carefully thought out computations, but the resultants of a welter of human reactions. The stock market is a voting machine rather than a weighing machine. It responds to factual data not directly, but only as they affect the decisions of buyers and sellers.
- Ben Graham
Courtesy : http://skinvestments.blogspot.in/
Quotable Quotes by Market Bigwigs
George Soros -->
"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."
"Playing by the rules, one does the best he can, irrespective of the social consequences. Whereas in making the rules, people ought to be concerned with the social consequences and not with their personal interests."
"I rely a great deal on animal instincts."
Was he one of the world's greatest investors?
George Soros will always be remembered for his almost $1 billion profits made when he shorted the British Pound. Or making over 60% yearly returns on his Quantum Fund with almost $4 billion under management.
Staggering returns by any standard! But not too many seem to recall George Sosros's horrific 60%+ losses in his funds when he was caught in the 1987 crash!
In fact, Soros even admits that he is rarely more than half right!
Warren Buffet -->
I never buy anything unless I can fill out on a piece of paper my reasons.
I may be wrong, but I would know the answer to that. “I’m paying $32 billion today for the Coca Cola Company because ...” If you can’t answer that question, you shouldn’t buy it. If you can answer that question, and you do it a few times, you’ll make a lot of money
"Rule No.1 is never lose money. Rule No.2 is never forget rule number one."
"Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a prospective owner."
"All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies."
"Look at market fluctuations as your friend rather than your enemy. Profit from folly rather than participate in it."
"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."
David Dreman -->
"Psychology is probably the most important factor in the market – and one that is least understood."
"I paraphrase Lord Rothschild: ‘The time to buy is when there's blood on the streets.'"
"One of the big problems with growth investing is that we can't estimate earnings very well. I really want to buy growth at value prices. I always look at trailing earnings when I judge stocks."
"If you have good stocks and you really know them, you'll make money if you're patient over three years or more."
Philip A. Fisher -->
"I don't want a lot of good investments; I want a few outstanding ones."
"I remember my sense of shock some half-dozen years ago when I read a [stock] recommendation to sell shares of a company . . . The recommendation was not based on any long-term fundamentals. Rather, it was that over the next six months the funds could be employed more profitably elsewhere."
Benjamin Graham -->
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks."
"Even the intelligent investor is likely to need considerable willpower to keep from following the crowd."
"It is absurd to think that the general public can ever make money out of market forecasts."
William H. Gross -->
"Finding the best person or the best organization to invest your money is one of the most important financial decisions you'll ever make."
"Do you really like a particular stock? Put 10% or so of your portfolio on it. Make the idea count … Good [investment] ideas should not be diversified away into meaningless oblivion."
Carl Icahn -->
"I make money. Nothing wrong with that. That's what I want to do. That's what I'm here to do. That's what I enjoy."
"CEOs are paid for doing a terrible job. If the system wasn't so messed up, guys like me wouldn't make this kind of money."
"When most investors, including the pros, all agree on something, they're usually wrong."
Jesse L. Livermore -->
"Profits always take care of themselves but losses never do."
"The average man doesn't wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think."
"When it comes to selling stocks, it is plain that nobody can sell unless somebody wants those stocks. If you operate on a large scale, you will have to bear that in mind all the time.”
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market. The stock market is the greatest, most complex puzzle ever invented – and it pays the biggest jackpot….it was never the money that drove me. It was the game, solving the puzzle, beating the market that had confused and confounded the greatest minds in history. For me, that passion, the juice, the exhilaration was in beating the game, a game that was a living dynamic riddle, a conundrum to everyone who speculated on Wall Street.
Peter Lynch -->
"Go for a business that any idiot can run – because sooner or later, any idiot is probably going to run it."
"If you stay half-alert, you can pick the spectacular performers right from your place of business or out of the neighborhood shopping mall, and long before Wall Street discovers them."
"Investing without research is like playing stud poker and never looking at the cards."
"Absent a lot of surprises, stocks are relatively predictable over twenty years. As to whether they're going to be higher or lower in two to three years, you might as well flip a coin to decide."
Bill Miller -->
"I often remind our analysts that 100% of the information you have about a company represents the past, and 100% of a stock's valuation depends on the future."
"The market does reflect the available information, as the professors tell us. But just as the funhouse mirrors don't always accurately reflect your weight, the markets don't always accurately reflect that information. Usually they are too pessimistic when it's bad, and too optimistic when it's good."
"What we try to do is take advantage of errors others make, usually because they are too short-term oriented, or they react to dramatic events, or they overestimate the impact of events, and so on."
Julian Robertson -->
"Our mandate is to find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them. If the 200 best don't do better than the 200 worst, you should probably be in another business."
"When Robertson is convinced that he is right," a former Tiger executive notes, "Julian bets the farm."
"Hear a [stock] story, analyze and buy aggressively if it feels right."
John Templeton -->
"Rejecting technical analysis as a method for investing, Templeton says, "You must be a fundamentalist to be really successful in the market."
"Invest at the point of maximum pessimism."
"If you want to have a better performance than the crowd, you must do things differently from the crowd."
Ralph Wanger -->
"An attractive investment area must have favorable characteristics that should last five years or longer."
"Chances are, things have changed enough so that whatever made you a success thirty years ago doesn't work anymore. I think that by concentrating on smaller companies, you improve your chances of catching the next wave."
"If you believe you or anyone else has a system that can predict the future of the stock market, the joke is on you."
William J. O'Neil -->
"Since the market tends to go in the opposite direction of what the majority of people think, I would say 95% of all these people you hear on TV shows are giving you their personal opinion. And personal opinions are almost always worthless … facts and markets are far more reliable."
"The whole secret to winning and losing in the stock market is to lose the least amount possible when you're not right."
"What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower."On Tue, Jan 31, 2012 at 9:51 AM, karishma suvarna <karishma...@gmail.com> wrote:
Investment success does not require glamour stocks or bull markets. Judgment and fortitude were our prerequisites. Judgment singles out opportunities, fortitude enables you to life with this while the rest of the world scramble in another direction… to us ugly stocks were often beautiful.
- John Neff
--On Sun, Jan 29, 2012 at 7:12 PM, uttam jain <uttamja...@gmail.com> wrote:
October. This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August and February.
- Mark Twain--
Uttam
Karishma Suvarna
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CA. Rajesh Desai
RAJESH DESAI
- Ben Graham
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CA. Rajesh Desai
RAJESH DESAI
- Peter Lynch
CA. Rajesh Desai
RAJESH DESAI
- Warren Buffett
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CA. Rajesh Desai
RAJESH DESAI
“A fool and his money are soon invited everywhere.”
Mathematics is ordinarily considered as producing precise and dependable results; but in the stock market the more elaborate and abstruse the mathematics, the more uncertain and speculative are the conclusions we draw therefrom.
- Benjamin Graham
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CA Mihir Desai
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CA. Rajesh Desai
RAJESH DESAI
Part of Buffett's appeal is the charm and charisma he brings to the normally pretentious world of finance. All the while, though, he's articulating some of the most practical investing advice available to individual investors like us. There’s a lot to be learned, so to get started, here are 50 classic quotes from one of the greatest investing minds of our time:
1. "Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1."
2. "A very rich person should leave his kids enough to do anything, but not enough to do nothing."
3. "It’s class warfare; my class is winning, but they shouldn’t be."
4. "If you’re in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%."
5. "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently."
6. "Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars."
7. "The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective."
8. "You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing."
9. "Can you really explain to a fish what it’s like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value."
10. "You only have to do a very few things right in your life so long as you don’t do too many things wrong."
11. "It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
12. "Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years."
13. "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
14. "Risk is a part of God’s game, alike for men and nations."
15. "Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks."
16. "We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'"
17. "Chains of habit are too light to be felt until they are too heavy to be broken."
18. "It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction."
19. "Let blockheads read what blockheads wrote."
20. "Our favorite holding period is forever. "I don't look to jump over seven-foot bars; I look around for one-foot bars that I can step over."
22. "If a business does well, the stock eventually follows."
23. "Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful.'"
24. "Price is what you pay. Value is what you get."
25. "Wide diversification is only required when investors do not understand what they are doing."
26. "Time is the friend of the wonderful company, the enemy of the mediocre."
27. "Only when the tide goes out do you discover who's been swimming naked."
28. "In the business world, the rearview mirror is always clearer than the windshield."
29. "Risk comes from not knowing what you're doing."
30. "Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it."
31. "There seems to be some perverse human characteristic that likes to make easy things difficult."
32. "If you are in a poker game and after 20 minutes you don't know who the patsy is, then you’re the patsy."
33. "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway."
34. "The rich invest in time, the poor invest in money."
35. "Beware of geeks bearing formulas."
36. "Without passion, you don't have energy. Without energy, you have nothing."
37. "I get to do what I like to do every single day of the year."
38. "I never attempt to make money on the stock market. I buy on assumption they could close the market the next day and not re-open it for five years."
39. "If past history was all that is needed to play the game of money, the richest people would be librarians."
40. "The investor of today does not profit from yesterday’s growth."
41. "The smarter the journalists are, the better off the society is to a degree. People read the press to inform themselves; and the better the teacher, the better the student body."
42. "We enjoy the process far more than the proceeds."
43. "Focus on your customers and lead your people as though their lives depend on your success."
44. "I have no idea on timing. It’s easier to tell what will happen than when it will happen. I would say that what is going on in terms of trade policy is going to have very important consequences."
45. "Cash never makes us happy. It’s better to have the money burning a hole in Berkshire’s pocket than resting comfortably in someone else’s."
46. "Never invest in a business you can’t understand."
47. "Derivatives are financial weapons of mass destruction."
48. "We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous. ...So we use lots of things daily that are dangerous, but we generally pay some attention to how they're used. We tell the cars how fast they can go."
49. "Only when you combine sound intellect with emotional discipline do you get rational behavior."
50. "I buy expensive suits. They just look cheap on me."
10 Warren Buffett Quotes You Should Learn By Heart
Written by Jason Ramos in Investing Tips and Resources
If you are interested in the stock market, there isn’t a chance that you haven’t heard of Warren E. Buffet. He’s the second richest man in America with a net worth of $44 B, only next to Bill Gates’ $61 B. He is the founder and CEO of Berkshire Hathaway (BRK), a holding company which owns subsidiaries that engage in diverse business activities. When it comes to investing in companies, Warren Buffett is THE MAN! Berkshire Hathaway had an overall gain of 513,055% from 1964 to 2011. WOW! AMAZING huh?!
Although super rich, Warren lives a “simple” life. He still drives himself to work every day and dines at Gorat’s, a local steakhouse (which is NOT an expensive restaurant) in Omaha. He is widely known for being courteous, personable, and humble. Obviously, Warren Buffett is a genius when it comes to investing and in life, so it pays to listen to his words. Here are ten famous Warren Buffet quotes that we can learn a ton from:
1. “Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.” Sounds pretty simple, right? But when you’re buying or selling stocks, never losing money can seem impossible because prices fluctuate all the time. Warren, though, believes in buying the value of a company and not its stock price. He buys value at the right price, he doesn’t speculate or gamble. He makes sure that he knows a company’s value and that it will far outweigh the price that he paid for, and that is how he sticks to rule No.1.
2. “You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.” Warren is a patient man. He would never chase prices or force any investment. He waits for the right moment (dictated by either price or market condition) to pounce, and pounce he will. This requires a great deal of discipline, and that is what separates him from the majority of unsuccessful investors. Indeed, patience is a virtue.
3. “Never invest in a business you can’t understand.” This Warren Buffet quote is probably an offshoot of rule No.1. He will only play a game that he is really great at to ensure that his chances of losing are slim. Understanding a business really well can help you smell trouble from miles away. Also, you can never have conviction in something you do not understand, and conviction is what enables you to pounce on a company when the time is right.
4. “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” Warren would always put more value in a great company with great products and management than a mediocre one that can be bought on the cheap. A company’s stock price moves with the whims and emotions of traders and speculators, and is never a good indicator of value. Never mind Wall Street, focus on Main Street and look for a great company that brings great value to its customers, investors, and industry.
5. “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.” This is a great criterion in choosing a company to buy. Only buy stock in a company that will thrive, grow, and excel in the foreseeable future regardless of stock price. I only know one kind of company that fits that description, and that is the great kind.
6. “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Warren knows that the stock market is full of folly. He knows that emotions like hope, greed, and fear dictate stock prices rather than logic and value. When people are panicky or fearful (as in a bear market) he takes that chance to buy great companies at cheap prices. As long as he does his research and knows the real value behind a company, he doesn’t get scared of its price fluctuations.
7. “It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.” This Warren Buffet quote shows his humility and his infinite thirst for learning and improvement. He doesn’t have a huge ego; he doesn’t think of himself as superior than anybody else out there. Nor does he think that he knows everything.
8. “Our favorite holding period is forever.” Warren plays for keeps. He doesn’t buy a company that he wouldn’t hold or manage until a very long time. Making amazing gains, like his, takes time. Start young and go for the homeruns.
9. “Only when you combine sound intellect with emotional discipline do you get rational behavior.” Investors need these two ingredients to successfully parlay the investment game. The sound intellect comes from doing your homework. It is your research and analysis of a company’s business and value. Discipline on the other hand, refers to your ability to wait for the proper price to enter. You shouldn’t chase prices in bull markets and you shouldn’t get scared in bears. Practice emotional discipline and take your investing to the next level.
10. “Without passion, you don’t have energy. Without energy, you have nothing.” Be passionate in what you do and do what you are passionate about. Passion will make you go to the ends of the earth to see a dream fulfilled. It will be your fuel in your journey. It will make you unstoppable. It will see you through when times get tough, and it will make life so worth living.
So there you go, I hope we could all learn from Warren’s words of inspiration and guidance. His principles are time-tested and proven both in life and in investing. I wish you the best, and may the “Oracle” be with you.
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CA. Rajesh Desai
Rajesh Desai
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We're just cautious in how technological advancements affect our businesses. We try to avoid ones where change will threaten the way a business is making money." - Warren Buffett
CA Mihir Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
"The intelligent investor is likely to need considerable will power to keep from following the crowd." - Benjamin Graham
CA. Rajesh Desai
Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
In both business and investments it is usually far more profitable to simply stick with the easy and obvious than it is to resolve the difficult. - Warren Buffett
CA. Rajesh Desai
Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
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CA. Rajesh Desai
Rajesh Desai
Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
"The function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future. If the margin is a large one, then it is enough to assume that future earnings will not fall far below those of the past."- Benjamin Graham
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CA. Rajesh Desai
CA. Rajesh Desai
Rajesh Desai
CA. Rajesh Desai