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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

41,838 Aufrufe

“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

391,342 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

52,178 Aufrufe

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: “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.”

23,412 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.”

48,836 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?”

35,831 Aufrufe

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

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

16,550 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.”

50,364 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

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

“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

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.”

28,393 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: “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

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.”

54,957 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: “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

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Warren Buffett: “The bottom 2% in terms of income in the United States, the bottom 5%, and for sure the top 1% all live better than John D. Rockefeller was living when I was 6 years old.” “John D. Rockefeller was the richest man in the world and, today, you can get better medicine, better education, better entertainment, better transportation. You can do everything better than he could.”

Warren Buffett: “The bottom 2% in terms of income in the United States, the bottom 5%, and for sure the top 1% all live better than John D. Rockefeller was living when I was 6 years old.” “John D. Rockefeller was the richest man in the world and, today, you can get better medicine, better education, better entertainment, better transportation. You can do everything better than he could.”

Investment Wisdom

2,772,632 Aufrufe • vor 16 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

124,099 Aufrufe • vor 2 Tagen

“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

“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

Investment Wisdom

64,610 Aufrufe • vor 1 Tag

Stanley Druckenmiller: “A lot of my style is you [first] build a thesis, hopefully that no one else has built. You sort of put some positions on… Then when the thesis starts to evolve and people get on & you see the momentum start to change in your favor, then you really go for it. You pile into the trade.”

Stanley Druckenmiller: “A lot of my style is you [first] build a thesis, hopefully that no one else has built. You sort of put some positions on… Then when the thesis starts to evolve and people get on & you see the momentum start to change in your favor, then you really go for it. You pile into the trade.”

Investment Wisdom

169,468 Aufrufe • vor 5 Tagen

Charlie Munger: “The big money is not in the buying or selling, but in the waiting.” Howard Marks showed why during an interview at Wharton: “As I recall, I think Amazon was $90 in ‘99 on the tech bubble. And then when the bubble burst in 2000 or 2001, it was $6. So it went from $90 to $6. It was down 93%. So what if you were smart enough to buy it at $6? Would you have held it at $12? Or would you have said, well, I’ve doubled my money. I’m going to take some off the table. I’m going to take out my cost and let my profits ride. And let’s say you held it at $12. You’re tough. What about when it got to $60 and you’ve made 10X your money? Would you sell it? Most people would. What about when it got to $600 and you’ve made 100X your money? Would you sell half? Would you sell 3/4? Would you sell 90%? And at the time I wrote it, as I recall, Amazon was $3,300. So if you sold it at $600, when it was up 100X, you left, basically, 85% of the money on the table.” Peter Lynch put it this way: “Stand by your stocks as long as the fundamental story of the company hasn’t changed.” Most people use this line as a reminder when their stocks are down… But it also allows you to stay invested long enough to make 100X or more when your stocks are up.

Charlie Munger: “The big money is not in the buying or selling, but in the waiting.” Howard Marks showed why during an interview at Wharton: “As I recall, I think Amazon was $90 in ‘99 on the tech bubble. And then when the bubble burst in 2000 or 2001, it was $6. So it went from $90 to $6. It was down 93%. So what if you were smart enough to buy it at $6? Would you have held it at $12? Or would you have said, well, I’ve doubled my money. I’m going to take some off the table. I’m going to take out my cost and let my profits ride. And let’s say you held it at $12. You’re tough. What about when it got to $60 and you’ve made 10X your money? Would you sell it? Most people would. What about when it got to $600 and you’ve made 100X your money? Would you sell half? Would you sell 3/4? Would you sell 90%? And at the time I wrote it, as I recall, Amazon was $3,300. So if you sold it at $600, when it was up 100X, you left, basically, 85% of the money on the table.” Peter Lynch put it this way: “Stand by your stocks as long as the fundamental story of the company hasn’t changed.” Most people use this line as a reminder when their stocks are down… But it also allows you to stay invested long enough to make 100X or more when your stocks are up.

Investment Wisdom

57,146 Aufrufe • vor 3 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

114,058 Aufrufe • vor 9 Tagen

“Your behavior will move in the direction of the people you associate with. So why not associate with the best?” — Warren Buffett

“Your behavior will move in the direction of the people you associate with. So why not associate with the best?” — Warren Buffett

Investment Wisdom

37,260 Aufrufe • vor 4 Tagen

Howard Marks: “Buffett says he made all of his money on 12 ideas. Guy invested for 70 years. Charlie Munger, who was a friend of mine, Warren‘s partner, used to say he made all his money on 4 ideas.”

Howard Marks: “Buffett says he made all of his money on 12 ideas. Guy invested for 70 years. Charlie Munger, who was a friend of mine, Warren‘s partner, used to say he made all his money on 4 ideas.”

Investment Wisdom

56,787 Aufrufe • vor 7 Tagen

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.

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.

Investment Wisdom

80,138 Aufrufe • vor 12 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

43,397 Aufrufe • vor 7 Tagen

Charlie Munger: “One of my favorite tricks is the inversion process.” “If somebody hired me to fix India, I would immediately say, ‘What could I do if I really wanted to hurt India?’ I’d figure out all the things that could most easily hurt India…and then I’d figure out how to avoid them.” “It works better frequently to invert the problem.”

Charlie Munger: “One of my favorite tricks is the inversion process.” “If somebody hired me to fix India, I would immediately say, ‘What could I do if I really wanted to hurt India?’ I’d figure out all the things that could most easily hurt India…and then I’d figure out how to avoid them.” “It works better frequently to invert the problem.”

Investment Wisdom

60,092 Aufrufe • vor 10 Tagen

Jeff Bezos once asked Warren Buffett about Buffett’s investing strategy Bezos: “Why don’t more people copy your investment strategy? It’s not that difficult to understand in principle.” Buffett replied: “Oh Jeff, that’s easy. My approach is a get rich slowly scheme...” “The stock market is a device for transferring money from the impatient to the patient.”

Jeff Bezos once asked Warren Buffett about Buffett’s investing strategy Bezos: “Why don’t more people copy your investment strategy? It’s not that difficult to understand in principle.” Buffett replied: “Oh Jeff, that’s easy. My approach is a get rich slowly scheme...” “The stock market is a device for transferring money from the impatient to the patient.”

Investment Wisdom

67,739 Aufrufe • vor 12 Tagen

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.”

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.”

Investment Wisdom

126,152 Aufrufe • vor 28 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 6 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

1,182,451 Aufrufe • vor 9 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

101,114 Aufrufe • vor 23 Tagen

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

132,120 Aufrufe • vor 1 Monat

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

207,406 Aufrufe • vor 1 Monat

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

97,722 Aufrufe • vor 1 Monat

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

379,374 Aufrufe • vor 4 Monaten