Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
Warren BuffettTags: investing
It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.
Warren BuffettIt amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.
Robert J. ShillerTags: investing
Acknowledge the complexity of the world and resist the impression that you easily understand it. People are too quick to accept conventional wisdom, because it sounds basically true and it tends to be reinforced by both their peers and opinion leaders, many of whome have never looked at whether the facts support the received wisdom. It's a basic fact of life that many things "everybody knows" turn out to be wrong.
Jim RogersTags: investing
You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.
Ben GrahamTags: investing
Buffett's methodology was straightforward, and in that sense 'simple.' It was not simple in the sense of being easy to execute. Valuing companies such as Coca-Cola took a wisdom forged by years of experience; even then, there was a highly subjective element. A Berkshire stockholder once complained that there were no more franchises like Coca-Cola left. Munger tartly rebuked him. 'Why should it be easy to do something that, if done well two or three times, will make your family rich for life?
Roger LowensteinTags: investing warren-buffett charlie-munger
The broker said the stock was "poised to move." Silly me, I thought he meant up.
Randy ThurmanTags: humor investing brokers stocks
October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.
Mark TwainTags: sarcasm investing stocks
Speculation is an effort, probably unsuccessful, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money from becoming a little.
Fred Schwed Jr.Tags: speculation investing stocks investment fred-schwed where-are-the-customer-s-yachts
Jewish families encourage pursuit of wealth accumulation, high-income careers, and investing.
H.W. CharlesTags: money investing wealth-creation make-money jewish-wealth wealth-accumulation
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