… price is actually least important, because time will fix errors on a wonderful business.
lk 235
… price is actually least important, because time will fix errors on a wonderful business.
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Professional investors are smart people, but investing is not about being smart; it is about knowing what you’re buying will be worth more in ten years and being patient.
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Buffet’s point is that fund managers commonly buy and sell based on fear or greed, not on ruthlessly rational, fully informed decisions.
lk 88
… Benjamin Graham’s investing strategy of “mentally, always buying the business, not buying the stock”.
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If we all acted like we are adults who take responsibility for our financial decisions, we would have massive power. It would also make this investing thing a lot more fun.
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The secret of good investing is to wait.
lk 61
No matter how many books are written about failure being good, failing is usually a personal disaster.
lk 56
In the 1600s, the Dutch came up with the history-changing innovation that led to such marketplace as we now have: they divided a corporation into shares of stock—which just meant owning fractions of a company instead of the whole thing—that were available to be purchased by members of the public.
lk 38
But being broke can make you brave.
lk 25
… the Emotional Rule of Investing: as soon as you buy a stock expecting it to go up, it will go down—because you bought the stock.
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The only way to simply maintain today’s buying power of the money you have is by making more money on your money.
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In other words, real investing is about having a high degree of certainty that you’re going to make money because of the difference between what you paid and the the cash flow value you bought; everything else is speculating.
lk XI
Buying stocks and bonds that you don’t understand isn’t investing.
lk XI
Tuntud ütlus, et osta odavalt ja müü kallilt, on kasvuinvestorile üks hullemaid investeerimissoovitusi.
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Öeldakse, et börsilanguse põhi saabub siis, kui isegi kõige tugevamad murduvad ja on valmis müüma.
lk 25