Quotes - someone else said it better before…
Warren Buffet
You have to start your quotes with Warren Buffet right?
Price is what you pay. Value is what you get.
Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Someone's sitting in the shade today because someone planted a tree a long time ago
If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes.
When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
Only when the tide goes out do you discover who's been swimming naked.
We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
Never invest in a business you cannot understand.
Risk comes from not knowing what you're doing.
I just sit in my office and read all day
I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.
Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.
Speculation is most dangerous when it looks easiest.
Burton Malkiel
The academic who writes to us simple investors…
A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one carefully selected by experts.
Trust in time rather than timing.
J.P. Morgan once had a friend who was so worried about his stock holdings that he could not sleep at night. The friend asked, 'What should I do about my stocks?' Morgan replied, 'Sell down to your sleeping point' Every investor must decide the trade-off he or she is willing to make between eating well and sleeping well. High investment rewards can only be achieved at the cost of substantial risk-taking. So what is your sleeping point? Finding the answer to this question is one of the most important investment steps you must take.
The surest way to find an actively managed fund that will have top-quartile returns is to look for a fund that has bottom-quartile expenses.
Experience conclusively shows that index-fund buyers are likely to obtain results exceeding those of the typical fund manager, whose large advisory fees and substantial portfolio turnover tend to reduce investment yields. Many people will find the guarantee of playing the stock-market game at par every round a very attractive one. The index fund is a sensible, serviceable method for obtaining the market's rate of return with absolutely no effort and minimal expense.
Morgan Housel
Almost all of these are from my FAVORITE book “Psychology of Money”
Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.
Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.
doing something you love on a schedule you can’t control can feel the same as doing something you hate.
progress happens too slowly to notice, but setbacks happen too quickly to ignore.
Spending money to show people how much money you have is the fastest way to have less money.
Things that have never happened before happen all the time.
Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.
To grasp why people bury themselves in debt, you don’t need to study interest rate: you need to sturdy the history of greed , insecurity and optimism.
Be nicer and less flashy. No one is impressed with your possessions as much as you are. You might think you want a fancy car or a nice watch. But what you probably want is respect and admiration. And you’re more likely to gain those things through kindness and humility than horsepower and chrome.
Everything has a price, but not all prices appear on labels.
But there’s only one way to stay wealthy: some combination of frugality and paranoia.
And since you can build wealth without a high income, but have no chance of building wealth without a high savings rate, it’s clear which one matters more.
Saving is the gap between your ego and your income.
Planning is important, but the most important part of every plan is to plan on the plan not going according to plan.
Expecting things to be bad is the best way to be pleasantly surprised when they’re not. Which, ironically, is something to be optimistic about.
one of the most powerful ways to increase your savings isn’t to raise your income. It’s to raise your humility.
A good rule of thumb for a lot of things in life is that everything that can break will eventually break. So if many things rely on one thing working, and that thing breaks, you are counting the days to catastrophe. That’s a single point of failure.
John (Jack) Bogle
The “father of the index fund” and founder of Vanguard. Most of these quotes are from his book “The Little Book of Common Sense Investing”
“Don't look for the needle in the haystack. Just buy the haystack!”
“The grim irony of investing, then, is that we investors as a group not only don't get what we pay for, we get precisely what we don't pay for. So if we pay for nothing, we get everything.”
“When there are multiple solutions to a problem, choose the simplest one.”
“Buying funds based purely on their past performance is one of the stupidest things an investor can do.”
“Owning the stock market over the long term is a winner's game, but attempting to beat the market is a loser's game.”
“It’s amazing how difficult it is for a man to understand something if he’s paid a small fortune not to understand it.”
MORE TO COME SOON!