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.
If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes.
The person that turns over the most rocks wins the game. And that's always been my philosophy.
The key to making money in stocks is not to get scared out of them.
I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.
In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.
When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.
I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'
There are substantial rewards for adopting a regular routine of investing and following it no matter what, and additional rewards for buying more shares when most investors are scared into selling.
If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.
In stocks as in romance, ease of divorce is not a sound basis for commitment.
There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or, worse, to buy more of it, when the fundamentals are deteriorating.
Stock picking can't be reduced to a simple formula or a recipe that guarantees success if strictly adhered to.
A person infatuated with measurement, who has his head stuck in the sand of the balance sheets, is not likely to succeed.
In business, competition is never as healthy as total domination.
Investing is fun, exciting, and dangerous if you don't do any work.
Your investor's edge is not something you get from Wall Street experts. It's something you already have. You can outperform the experts if you use your edge by investing in companies or industries you already understand.
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