Sunday, December 30, 2007

Favorite Quotes from Warren Buffet

I thought I would use my final post of the year to share a few of my favorite quotes from the world's most successful investor, Warren Buffet.

“Wide diversification is only required when investors do not understand what they are doing.”

“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”

“We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'”

“Time is the friend of the wonderful company, the enemy of the mediocre.”

“The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.”

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”

“Our favourite holding period is forever.”

“Only when the tide goes out do you discover who's been swimming naked”

“Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years”

“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”

“If past history was all there was to the game, the richest people would be librarians.”

“Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market”

“A public-opinion poll is no substitute for thought.”

“Lethargy, bordering on sloth should remain the cornerstone of an investment style.”

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Happy New Year MCM!

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