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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.

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

“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

389,839 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.”

22,609 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: “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.”

78,832 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: “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

“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

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.”

26,567 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

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

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.”

62,560 Aufrufe

Peter Lynch: “I think economists have predicted 33 out of the last 11 recessions.”

Peter Lynch: “I think economists have predicted 33 out of the last 11 recessions.”

34,629 Aufrufe

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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

162,240 Aufrufe • vor 17 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

795,024 Aufrufe • vor 3 Monaten

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

378,963 Aufrufe • vor 1 Monat

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

1,181,689 Aufrufe • vor 6 Monaten

Warren Buffett: “Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.” For higher rates, the opposite is true. Buffett’s primer on their relationship to investments & “The Yardstick Effect”:

Warren Buffett: “Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices.” For higher rates, the opposite is true. Buffett’s primer on their relationship to investments & “The Yardstick Effect”:

Investment Wisdom

92,004 Aufrufe • vor 16 Tagen

Charlie Munger: “You don’t have to have perfect wisdom to get very rich. All you’ve got to do is have slightly more than other people on average over a long time.”

Charlie Munger: “You don’t have to have perfect wisdom to get very rich. All you’ve got to do is have slightly more than other people on average over a long time.”

Investment Wisdom

18,999 Aufrufe • vor 3 Tagen

“Stocks are safe for the long run and they're very unsafe for tomorrow.” — Warren Buffett

“Stocks are safe for the long run and they're very unsafe for tomorrow.” — Warren Buffett

Investment Wisdom

43,186 Aufrufe • vor 8 Tagen

Howard Marks: “Buffett said, ‘I would rather have a lumpy 15% [return] than a smooth 12%.” “Risk is the probability of a negative outcome, of an undesirable outcome. It is not the volatility of the stream.”

Howard Marks: “Buffett said, ‘I would rather have a lumpy 15% [return] than a smooth 12%.” “Risk is the probability of a negative outcome, of an undesirable outcome. It is not the volatility of the stream.”

Investment Wisdom

57,716 Aufrufe • vor 11 Tagen

Warren Buffett: “There’s always going to be some news, good or bad, every day. In fact, if you go back and read all the papers for the last 50 years, probably most of the headlines tend to be bad. But if you look at what happens to the economy, most of the things that happen are extremely good.”

Warren Buffett: “There’s always going to be some news, good or bad, every day. In fact, if you go back and read all the papers for the last 50 years, probably most of the headlines tend to be bad. But if you look at what happens to the economy, most of the things that happen are extremely good.”

Investment Wisdom

39,417 Aufrufe • vor 8 Tagen

Howard Marks: “Buffett says, ‘The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.’ And I believe that.” “When people believe there’s no risk, the world gets crazy.”

Howard Marks: “Buffett says, ‘The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.’ And I believe that.” “When people believe there’s no risk, the world gets crazy.”

Investment Wisdom

28,676 Aufrufe • vor 6 Tagen

Howard Marks on one of the greatest things Charlie Munger ever told him: “… I had lunch with Charlie, and as I got up to leave, he said: ‘Just remember, none of this is easy. Anybody who thinks it’s easy is stupid…” Because in a game where many highly intelligent and disciplined people are looking to get rich, relentlessly finding your edge is everything. Munger: “I don’t play in a game where other people are wise and I am stupid. I look for a game where I am wise and they are stupid. And believe me it works better. God bless our stupid competitors. They make us rich.”

Howard Marks on one of the greatest things Charlie Munger ever told him: “… I had lunch with Charlie, and as I got up to leave, he said: ‘Just remember, none of this is easy. Anybody who thinks it’s easy is stupid…” Because in a game where many highly intelligent and disciplined people are looking to get rich, relentlessly finding your edge is everything. Munger: “I don’t play in a game where other people are wise and I am stupid. I look for a game where I am wise and they are stupid. And believe me it works better. God bless our stupid competitors. They make us rich.”

Investment Wisdom

116,400 Aufrufe • vor 25 Tagen

Warren Buffett: “You just have to have some conviction that a given company, or a group of companies…are likely to earn more money 5 or 10 or 20 years from now than they’re earning now. And that is not a difficult decision to come to.”

Warren Buffett: “You just have to have some conviction that a given company, or a group of companies…are likely to earn more money 5 or 10 or 20 years from now than they’re earning now. And that is not a difficult decision to come to.”

Investment Wisdom

21,211 Aufrufe • vor 4 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

601,035 Aufrufe • vor 4 Monaten

Warren Buffett: “I worry much more about the things I do than the things I don’t do. I missed all kinds of [speculative] opportunities in my life… You just want to make sure that you’re on the side of the house when you bet rather than bet against the house.”

Warren Buffett: “I worry much more about the things I do than the things I don’t do. I missed all kinds of [speculative] opportunities in my life… You just want to make sure that you’re on the side of the house when you bet rather than bet against the house.”

Investment Wisdom

36,947 Aufrufe • vor 10 Tagen

Charlie Munger: “Eventually if you try and solve all your problems by printing money, there’ll be some disaster.” “My personal bet is that these democracies will eventually borrow too much and cause some real troubles…[but] I don't know when.”

Charlie Munger: “Eventually if you try and solve all your problems by printing money, there’ll be some disaster.” “My personal bet is that these democracies will eventually borrow too much and cause some real troubles…[but] I don't know when.”

Investment Wisdom

53,828 Aufrufe • vor 14 Tagen

Stanley Druckenmiller: “One of the most important things to do is not to play when you don’t see a fat pitch.” “Historically, I [only] deal in 5 or 6 asset buckets. It tends to keep me out of trouble…” Patience & Circle of Competence: knowing when & where to swing.

Stanley Druckenmiller: “One of the most important things to do is not to play when you don’t see a fat pitch.” “Historically, I [only] deal in 5 or 6 asset buckets. It tends to keep me out of trouble…” Patience & Circle of Competence: knowing when & where to swing.

Investment Wisdom

144,819 Aufrufe • vor 1 Monat

Charlie Munger: “There are a lot of things I don’t think about. One of them is companies that are losing two or three billion dollars a year and going public… I’m looking for things where I think I can predict what’s going to happen with a high degree of accuracy.”

Charlie Munger: “There are a lot of things I don’t think about. One of them is companies that are losing two or three billion dollars a year and going public… I’m looking for things where I think I can predict what’s going to happen with a high degree of accuracy.”

Investment Wisdom

27,738 Aufrufe • vor 11 Tagen

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.”

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.”

Investment Wisdom

287,844 Aufrufe • vor 4 Monaten

Charlie Munger: “[Warren & I] are both smart enough to have watched our friends who got rich build these really fancy houses & I would say in practically every case they make the person less happy, not happier.”

Charlie Munger: “[Warren & I] are both smart enough to have watched our friends who got rich build these really fancy houses & I would say in practically every case they make the person less happy, not happier.”

Investment Wisdom

86,541 Aufrufe • vor 1 Monat

“If you spend 14 minutes a year on economics, you just wasted 12 minutes.” — Peter Lynch

“If you spend 14 minutes a year on economics, you just wasted 12 minutes.” — Peter Lynch

Investment Wisdom

349,433 Aufrufe • vor 5 Monaten