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Costs make the difference between investment success and investment failure. So, sharpen your pencils. Do your own arithmetic. Realize that you are not consigned to playing the hyperactive management game that is played by the overwhelming majority of individual investors and mutual fund owners alike. The low-cost index fund is there to guarantee t
... See moreJohn C. Bogle • The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
Andy began to read some investment books. He liked Benjamin Graham’s classic, The Intelligent Investor. Ben Graham taught at Columbia University. His best student was Warren Buffett, the man who many people consider to be the greatest investor of all time. Late in his life, Ben Graham also supported the index fund concept, much as Warren Buffett do
... See moreAndrew Hallam • Millionaire Teacher
Seth Klarman • Seth A. Klarman remarks at MIT
“It’s not whether you’re right or wrong that’s important,” George Soros once said, “but how much money you make when you’re right and how much you lose when you’re wrong.” You can be wrong half the time and still make a fortune.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
When asked if private investors can draw any lessons from what Harvard does, Mr. Meyer responded, “Yes. First, get diversified. Come up with a portfolio that covers a lot of asset classes. Second, you want to keep your fees low.
John C. Bogle • The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
No solitary measure or pair of measures should govern a decision to buy a stock. You need to probe a whole raft of numbers and facts, searching for confirmation or contradiction.
John Neff • John Neff on Investing
He doesn’t search for investments in analyst reports, or by speaking to sell-side researchers. “People on Wall Street tend to be very articulate, highly educated and intelligent, and can be very persuasive,” he says. “It’s best to just stay away.”
Allen C. Benello • Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors
YOU: “What is it about La Quinta that makes it a good buy now? Where is the market? Are the existing La Quintas making a profit? Where’s the expansion coming from? What’s the debt situation? How will they finance growth without selling lots of new shares and diluting the earnings? Are insiders buying?” BROKER: “I think a lot of that will be covered
... See morePeter Lynch • One Up on Wall Street
You have to be a student of the market’s history to understand its future. Any time you hear someone say, “It really is different this time,” turn off the TV and go for a walk.