| Classic wisdom
"By You make most of your money in a bear market, you just don't realise it at the time." Shelby Davis "By not relying on this [human misjudgment], and not understanding this, it was costing me a lot of money."
"I've gotten so that I now use a kind of two-track analysis. First,
what are the factors that really govern the interests
involved, rationally considered? And second, what are the subconscious
influences where the brain at a subconscious level is automatically doing
these things which by and large are useful, but which often malfunction."
The Art of Stockpicking - Charlie Munger
"[It provides] empirical evidence that Benjamin Graham’s principles of investing, first described in 1934 in his book, Security Analysis, continue to serve investors well."
What Has Worked in Investing
"The way you lose money in the market is to start off with an economic picture." Peter Lynch Ten Investment Gurus
"Low P/E stocks can capture the wonders of P/E expansion with less risk than skittish growth stocks." John Neff Ten Investment Gurus
"I'll never go broke taking a profit...This well-worn proverb is one of the most dangerous fallacies of all in
investment. It encourages you to take profits far too early."
Fifteen Favourite Fallacies
"In the end each one must make his own decision and accept responsibility therefor. We suggest, however, that if the investor is in doubt as to which course to pursue he should choose the path of caution.. "
The Intelligent Investor by Benjamin Graham - Chapters 1-3 |
|
