Investment Wisdom

@InvestingCanons • 127,211 subscribers

Sound investment principles, wisdom, & inspiration from the best investors & thinkers. Follow me to think about investing & decision-making more wisely.

Live Cam

Investment Wisdom

Shorts

“If you’ve got 150 IQ and you’re in my business, go sell 20 or 30 points to somebody else because you really don’t need it. You need emotional stability.” — Warren Buffett

“You climb as hard as you can by just advancing one inch at a time. That's the secret of life.” — Charlie Munger

Warren Buffett: “Don’t sleepwalk through life. Find something that you really enjoy doing, if you can do it. Not everybody is lucky enough to be able to find that, but it ought to be your goal.”

Charlie Munger: “I can’t think of a single example in my whole life where ‘keeping it simple’ worked against us. We’ve made mistakes, but they weren’t because we kept it simple.”

Warren Buffett: “All these economists with 160 IQs and spending their life studying it. And can you name me one super wealthy economist who’s ever earned money out of securities? No.”

Warren Buffett this morning: “If you have a wonderful business, you are going to be subject to attack. So it’s not a question of whether it was wonderful yesterday. The question is, how long is it going to be wonderful?”

Warren Buffett: “Don’t sleepwalk through life. Find something that you really enjoy doing, if you can do it. Not everybody is lucky enough to be able to find that, but it ought to be your goal.”

Warren Buffett: “Benjamin Graham said long ago that you’re neither right nor wrong because people agree with you or disagree with you…you’re right because your facts and reasoning are right.”

Warren Buffett: “Confidence in markets…is a lot like oxygen: when you have it, you don’t even think about it… When it’s gone for 5 minutes, it’s the only thing you think about.”

Charlie Munger: “There will never be any shortage of good people in the world. All you've got to do is seek them out and get as many of them as possible into your life… And keep the rest the hell out.”

“Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.” — Peter Lynch

“Microeconomics is what we do and macroeconomics is what we put up with.” — Charlie Munger

“If you buy good businesses at reasonable prices and hold them, you’re going to make a lot of money.” — Warren Buffett

“If you buy things for far below what they're worth, and you buy a group of them, you basically don't lose.” — Warren Buffett

Peter Lynch: “Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.” Anticipating temporary corrections creates permanent losses.

Charlie Munger on attitude: “It's very counterproductive for an individual to feel like a victim, even if he is one. The best attitude is just to be cheerful about everything and keep plugging along.”

“If you buy good businesses at reasonable prices and hold them, you’re going to make a lot of money.” — Warren Buffett

Warren Buffett: “I just read and read and read. I probably read 5 to 6 hours a day…I read 5 daily newspapers. I read a fair number of magazines. I read 10-Ks, I read annual reports…I’ve always enjoyed reading.”

Warren Buffett: “The beauty of stocks is that they do sell at silly prices from time to time…That's how Charlie and I have gotten rich.”

Charlie Munger: “Family comes first, be in a position so you can help others when troubles come, prudent, sensible, and a moral duty to be reasonable...” “These are more important than being rich. More important than being important.”

Videos

Watch Anya Live

Stanley Druckenmiller: “All this talk about the debt ceiling is like sitting on the Santa Monica Pier and you’ve got a 30-foot wave coming in, and you’re worried about the Santa Monica Pier being damaged… …but you know 10 miles out is a 200-foot tsunami.”

Stanley Druckenmiller: “You need to be intellectually curious, really really open-minded, &amp; you need to have courage. And when I say courage, you need the courage to bet big &amp; bet concentrated, but also the courage to fight your own emotions.”

Warren Buffett on the Fed: “I wish they had a 0% inflation target.” “Once you start saying that you're gonna tolerate 2%, that compounds pretty dramatically over time. You're saying to people, ‘If you're getting less than 2% on your money, you're going backwards.’”

Stanley Druckenmiller: “Put all your eggs in one basket and watch the basket very carefully.” “Every investor has 3 or 4 big winners a year. Where you get in trouble is something you’re not entirely focused on.”

Charlie Munger: “What caused [my] financial success was not extreme ability. I have a good mind, but I'm way short of a prodigy. And I've had results in life that are prodigious. And that came from tricks. I just learned a few basic tricks.” “One – I invert all the time.”

Warren Buffett: “The whole Walt Disney Company was selling for $80 million in 1966, debt-free. $4 million bought us 5% of the company. They spent $17 million on the Pirates [of the Caribbean] ride. Here was a company selling at less than 5x rides - and they had a lot of rides!”

Charlie Munger: “The secret to life is easy because it's so simple: You don’t have a lot of envy or resentment. You don’t overspend your income. You stay cheerful in spite of your troubles. You deal with reliable people and you do what you’re supposed to do.”

“You don’t need 20 right decisions to get very rich. 4 or 5 will probably do it…” “It’s a terrible mistake to think you have to have an opinion on everything.” — Warren Buffett

Warren Buffett: “If you take 28% times 33% times 17% times 22% times zero, the answer is zero. You can’t have a zero in there...” “I’ve seen a lot of people put up a lot of good [returns], and then they stuck a zero in there—and it was over. You ‘Go Back To Go.’”

Stanley Druckenmiller: “That would be my #1 advice to young people: Do not invest in the present. The present is not what moves stock prices. Change moves them.”

Warren Buffett: “If you find 3 wonderful businesses in your life, you’ll get very rich…” “If you look at how the fortunes were built in this country, they weren’t built out of a portfolio of 50 companies. They were built by someone who identified a wonderful business.”

Warren Buffett: “I like to deal with people where I feel a 1-page contract will do the job. If I have to have 50 pages in there to protect me against the guy I’m dealing with, I’ll always wonder whether I needed 51.”

Peter Lynch: “If you put $1,000 in a stock, all you can lose is $1,000. And I've done that several times. But if you're right, you can make $5,000, $10,000, $20,000.” Capped downside, unlimited upside.

Warren Buffett: “We have not been good at timing the market, but we have been reasonably good at figuring out when we were getting enough for our money.”

Stanley Druckenmiller: “You need to be intellectually curious, really really open-minded, & you need to have courage. And when I say courage, you need the courage to bet big & bet concentrated, but also the courage to fight your own emotions.”