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Investment Wisdom

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

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“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

“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

390,957 Aufrufe

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

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

51,871 Aufrufe

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 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?”

35,739 Aufrufe

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: “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.”

48,392 Aufrufe

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.”

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.”

28,922 Aufrufe

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: “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.”

50,342 Aufrufe

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

28,300 Aufrufe

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: “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.”

79,018 Aufrufe

Charlie Munger: “Everybody has some bad [trades]…It happens…But just do not live your life in such a fashion that a bad day can kill you.”

Charlie Munger: “Everybody has some bad [trades]…It happens…But just do not live your life in such a fashion that a bad day can kill you.”

14,109 Aufrufe

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.”

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.”

77,352 Aufrufe

“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

“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

65,954 Aufrufe

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.

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.

34,316 Aufrufe

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.”

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.”

28,120 Aufrufe

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.”

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.”

23,071 Aufrufe

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

36,350 Aufrufe

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: “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.”

54,479 Aufrufe

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.”

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.”

62,594 Aufrufe

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.”

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.”

26,589 Aufrufe

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.”

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.”

32,404 Aufrufe

Warren Buffett: “A stock is a piece of a business. And if you buy a piece of a good business and somebody’s running it for you [who’s] honest & able, and you pay a reasonable price—you’re going to make a lot of money.”

Warren Buffett: “A stock is a piece of a business. And if you buy a piece of a good business and somebody’s running it for you [who’s] honest & able, and you pay a reasonable price—you’re going to make a lot of money.”

21,258 Aufrufe

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Stanley Druckenmiller explains a “One-Way Bet”: “What’s a ‘One-Way Bet?’ That’s when you have a lot of conviction that something might not move, but if it moves, it’ll only move in one direction… So I bought the Treasuries thinking, for example, the 2-year I think it was like 230 or something. If I’m wrong, it goes to 240. And you can envision a scenario where you could make 150 or 200 basis points. So I didn’t necessarily think I was going to make money, but it was a great risk-reward.”

Stanley Druckenmiller explains a “One-Way Bet”: “What’s a ‘One-Way Bet?’ That’s when you have a lot of conviction that something might not move, but if it moves, it’ll only move in one direction… So I bought the Treasuries thinking, for example, the 2-year I think it was like 230 or something. If I’m wrong, it goes to 240. And you can envision a scenario where you could make 150 or 200 basis points. So I didn’t necessarily think I was going to make money, but it was a great risk-reward.”

Investment Wisdom

95,884 Aufrufe • vor 1 Tag

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: “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.”

Investment Wisdom

46,071 Aufrufe • vor 2 Tagen

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.’”

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.’”

Investment Wisdom

207,198 Aufrufe • vor 21 Tagen

“In the stock market, the most important organ is the stomach, not the brain.” — Peter Lynch

“In the stock market, the most important organ is the stomach, not the brain.” — Peter Lynch

Investment Wisdom

28,158 Aufrufe • vor 3 Tagen

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!”

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!”

Investment Wisdom

795,123 Aufrufe • vor 5 Monaten

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.”

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.”

Investment Wisdom

1,182,013 Aufrufe • vor 8 Monaten

Warren Buffett: “You should buy stocks when you think you’re getting a lot for your money, not necessarily when you think business is going to be good next year.”

Warren Buffett: “You should buy stocks when you think you’re getting a lot for your money, not necessarily when you think business is going to be good next year.”

Investment Wisdom

35,411 Aufrufe • vor 7 Tagen

Charlie Munger: “If you're just not crazy, you have a big advantage over 95% of people. If you're just consistently not crazy, you get a big advantage in life..” “It's so simple. Why don't more people do it?”

Charlie Munger: “If you're just not crazy, you have a big advantage over 95% of people. If you're just consistently not crazy, you get a big advantage in life..” “It's so simple. Why don't more people do it?”

Investment Wisdom

66,534 Aufrufe • vor 14 Tagen

Warren Buffett: “You have to make very, very few right investing decisions in your life. … The main thing to is buy into a wonderful business and just sit there with it.”

Warren Buffett: “You have to make very, very few right investing decisions in your life. … The main thing to is buy into a wonderful business and just sit there with it.”

Investment Wisdom

21,909 Aufrufe • vor 5 Tagen

Steve Jobs once called Warren Buffett for advice on stock buybacks. Buffett told Jobs—“There’s just 2 questions” to ask: 1. Do you have enough cash to build the business the way you see it over the next 5-10 years? 2. Is your stock selling for less than it’s worth? Jobs answered Yes to both. Buffett said: “Well, you’ve answered your own question.”

Steve Jobs once called Warren Buffett for advice on stock buybacks. Buffett told Jobs—“There’s just 2 questions” to ask: 1. Do you have enough cash to build the business the way you see it over the next 5-10 years? 2. Is your stock selling for less than it’s worth? Jobs answered Yes to both. Buffett said: “Well, you’ve answered your own question.”

Investment Wisdom

379,245 Aufrufe • vor 3 Monaten

Howard Marks: “You should never buy into momentum, you should never buy something because it’s been going up... You should only buy it if you think it’s good value.”

Howard Marks: “You should never buy into momentum, you should never buy something because it’s been going up... You should only buy it if you think it’s good value.”

Investment Wisdom

49,009 Aufrufe • vor 15 Tagen

Stanley Druckenmiller: “I think there’s a lot of bull market geniuses around. It’s not that they love the game. They love winning, but they were surfing with a hurricane behind their back that was giving them these nice waves.”

Stanley Druckenmiller: “I think there’s a lot of bull market geniuses around. It’s not that they love the game. They love winning, but they were surfing with a hurricane behind their back that was giving them these nice waves.”

Investment Wisdom

60,438 Aufrufe • vor 19 Tagen

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.”

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.”

Investment Wisdom

601,260 Aufrufe • vor 6 Monaten

Peter Lynch: “The key thing is that when the stock goes from $10 to $6, if you understand what they do and you know they're financially solvent, you're fine. If you don't understand [the business], you're probably going to do the wrong thing.”

Peter Lynch: “The key thing is that when the stock goes from $10 to $6, if you understand what they do and you know they're financially solvent, you're fine. If you don't understand [the business], you're probably going to do the wrong thing.”

Investment Wisdom

29,989 Aufrufe • vor 9 Tagen

Charlie Munger: “If you want a formula, you should go back to graduate school. They will give you lots of formulas that won't work.” 😂 “When Costco was selling at about 12 to 13x earnings, I thought that was a ridiculously low value…but I can't reduce that to a formula for you.”

Charlie Munger: “If you want a formula, you should go back to graduate school. They will give you lots of formulas that won't work.” 😂 “When Costco was selling at about 12 to 13x earnings, I thought that was a ridiculously low value…but I can't reduce that to a formula for you.”

Investment Wisdom

56,880 Aufrufe • vor 23 Tagen

Warren Buffett: “If you can detach yourself, temperamentally, from the crowd, you'll get very rich. You don't have to be very bright [either].” “It doesn't take brains. It takes temperament.”

Warren Buffett: “If you can detach yourself, temperamentally, from the crowd, you'll get very rich. You don't have to be very bright [either].” “It doesn't take brains. It takes temperament.”

Investment Wisdom

58,844 Aufrufe • vor 24 Tagen

Stanley Druckenmiller: “Life goes in streaks. And like a hitter in baseball, sometimes a money manager is seeing the ball and sometimes they're not.” When investors are down, they tend to get aggressive to win it back. Druckenmiller: “One of my most important jobs as a money manager was to understand whether I was hot or cold...” “In my opinion, when you're cold, you should be trying for bunts.”

Stanley Druckenmiller: “Life goes in streaks. And like a hitter in baseball, sometimes a money manager is seeing the ball and sometimes they're not.” When investors are down, they tend to get aggressive to win it back. Druckenmiller: “One of my most important jobs as a money manager was to understand whether I was hot or cold...” “In my opinion, when you're cold, you should be trying for bunts.”

Investment Wisdom

164,149 Aufrufe • vor 2 Monaten

Stanley Druckenmiller: “Sizing is 70% to 80% of the equation. …It’s not whether you’re right or wrong, it’s how much you make when you’re right and how much you lose when you’re wrong.”

Stanley Druckenmiller: “Sizing is 70% to 80% of the equation. …It’s not whether you’re right or wrong, it’s how much you make when you’re right and how much you lose when you’re wrong.”

Investment Wisdom

49,466 Aufrufe • vor 22 Tagen

Charlie Munger: “[Warren and I] have the theory that you should hang around good people and always behave better every year than you behaved the previous year. And as you rise in the world, it’s particularly important to know that rule.”

Charlie Munger: “[Warren and I] have the theory that you should hang around good people and always behave better every year than you behaved the previous year. And as you rise in the world, it’s particularly important to know that rule.”

Investment Wisdom

41,807 Aufrufe • vor 18 Tagen

Warren Buffett: “I did miss the boat [on tech stocks], but I don't mind missing boats that I don't know enough to captain.” “I don't have to understand everything. I just have to be right about the things that I do.”

Warren Buffett: “I did miss the boat [on tech stocks], but I don't mind missing boats that I don't know enough to captain.” “I don't have to understand everything. I just have to be right about the things that I do.”

Investment Wisdom

60,503 Aufrufe • vor 29 Tagen