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Getting started
Useful quotations
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The great investors often express the tricks of their trade simply and briefly.
You will make more money from understanding – and applying – even one or two of the following quotations than from a lifetime of listening to mediocre advice from many self-styled stock market
pundits.
Read these quotes carefully. Think about them day and night. Put the advice into practice. And watch your investment performance improve. |
Your judgment as an investor
You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right – and that's the only thing that makes you right.
Warren Buffett, the world's most successful investor (value investing)
I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgment.
Edwin Lefevre (from his book, Reminiscences of a Stock Operator). The comment is attributable to Jesse Livermore, the greatest stock market trader who ever lived.
No matter what information you have, no matter what you are doing, you can be wrong.
Larry Hite, Mint Investment Management Company
You cannot teach a man anything; you can only help him to find it within himself.
Galileo Galilei
Investment, if you like, is a math exam where the powers that be work out the answers based on new formulae they develop after your papers have been handed in.
Dr Marc Faber, international stock market guru (famous bear)
Money is a measurement of how well you're doing.
Robert Holmes a Court, international entrepreneuer
Accurate thinkers permit no one to do their thinking for them.
Napoleon Hill, world-class motivational guru (from his book Napoleon Hill's Unlimited Success)
Fundamental analysis
Countless incidents have demonstrated that a dollar of reported profits can easily prove to be worth less than 100 cents once the dust has settled.
Martin S Fridson, director, US investment bank Merrill Lynch (from his book, Investment Illusions)
Every set of published accounts is based on books which have been gently cooked or completely roasted.
Ian Griffiths (from his book, Creative Accounting)
Opportunism
Astronomic price earnings ratios rarely last for long, as they thrive on excessive hope and for that reason the most has to be made of them while they persist.
Jim Slater, private client guru, (from the magazine, analyst)
High-tech stock investing
I don't recommend internet stocks to people who don't like massive risk, especially at current levels. People are jumping into it like it's a gold rush.
Bill Gates, founder of Microsoft (the world's richest man)
If the share price divided by the annual research and development spend per share is five or less, then buy the shares of a technology company.
Conor McCarthy, founder, TechInvest, a high-tech stock tipsheet
To invest blindly in the TMT (Technology, Media and Telecom) sector is a bit like assuming someone's bound to be good at cricket just because they're Australian.
Jonathan Maitland, (from his book, How to Make Your Million from the Internet)
Popular fallacies
It is a myth that profits are higher in fast-growing industries.
John Kay, economist and academic
The children (or designated heirs) of a great CEO are about as likely to excel as replacement CEOs as are any of Beethoven's children to write great symphonies.
Robert A G Monks
Most investors don't even stop to consider how much business a company does. All they look at are earnings per share and net assets per share.
Kenneth L Fisher, stock market guru (from his classic book, Common Stocks and Uncommon Profits)
You do not need the expertise of a qualified accountant to achieve success.
Bernice Cohen, private client stock market guru (from her book, The Armchair Investor)
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Users of this site have found these quotes useful. Are there any that we should add to this page? Tell us via the FlexiForum. Thank you. |
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