Nog een paar toepasselijke value quotes:
In the short run, the market is a voting machine. In the long run, it's a weighing machine - Warren E. Buffett quoting Benjamin Graham
"The Stock Market is designed to transfer money from the Active to the Patient."
At the bottom of the bear market in October 1974 a Forbes article interviewed Buffett. Buffett, for the first time in his life, made public prediction about the stock market.
"How do you feel? Forbes asked.
"Like an oversexed guy in a whorehouse. Now is the time to invest and get rich."
There is scarcely an instance of a man who has made a fortune by speculation and kept it - Andrew Carnegie
Most investment managers would produce better returns for their clients if they completely ignored current market price - Robert G. Kirby
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years - Warren E. Buffett
Fear has a far greater grasp on human action than the impressive weight of historical evidence - Jeremy Siegel
Whatever men attempt, they seem driven to overdo. When hopes are soaring, I always repeat to myself that two and two still make four - Bernard Baruch
Too often we... enjoy the comfort of opinion without the discomfort of thought - John F. Kennedy
The conventional view serves to protect us from the painful job of thinking
- John Kenneth Galbraith
The only certainty is that there is no certainty - Robert Rubin
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria - Sir John Templeton
You are neither right nor wrong because the crowd (agrees or) disagrees with you. You are right because your data and reasoning are right - Warren E. Buffett quoting Benjamin Graham
Sound investing can make you very wealthy if you're not in too big a hurry.
- Warren E. Buffett
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful."- lecturing to a group of students at Columbia U. He was 21 years old.
"For some reason, people take their cues from price action rather than from values. What doesn’t work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up. "
"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."
"If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game."- 1997 Berkshire Hathaway Annual Meeting
"Ben's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?"- 1987 Chairman's Letter to Shareholders
"If a business does well, the stock eventually follows."
"The future is never clear, and you pay a very high price in the stock market for a cheery consensus. Uncertainty is the friend of the buyer of long-term values."
"Je verdient het meeste geld in een bear markt, alleen realiseer je je op dat moment vaak niet."