Quotes About Investment

Life is like a trumpet - if you don't put anything into it, you don't get anything out of it.

Any book without a mistake in it has had too much money spent on it.

Life can't be all bad when for ten dollars you can buy all the Beethoven sonatas and listen to them for ten years.

Life can't be all bad when for ten dollars you can buy all the Beethoven sonatas and listen to them for ten years.

One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.

The waste of capital, in proportion to the total capital, in this country between 1800 and 1850, in the attempts which were made to establish means of communication and transportation, was enormous.

Capital is only formed by self-denial, and

The man who has capital has secured his future, won leisure which he can employ in winning secondary objects of necessity and advantage, and emancipated himself from those things in life which are gross and belittling. The

We cannot now stir a step in our life without capital. We cannot build a school, a hospital, a church, or employ a missionary society, without capital, any more than we could build a palace or a factory without capital. We

Capital is force, human energy stored or accumulated, and

A good father believes that he does wisely to encourage enterprise, productive skill, prudent self-denial, and judicious expenditure on the part of his son. The

Capital, however, as we have seen, is the force by which civilization is maintained and carried on. The

Every bit of capital, therefore, which is given to a shiftless and inefficient member of society, who makes no return for it, is diverted from a reproductive use; but

He noted in one of his earliest memos that the average annual return for stocks from 1926 to 1987 was 9.44 percent, but "if you had gone to cash and missed the best 50 of those 744 months, you have would have missed all of the return. This tells me that attempts at market timing are a source of risk, not protection."*

Consider the brutal mathematics of financial loss: if you lose 50 percent on an ill-considered bet, you'll need a 100 percent gain just to get back to where you started.

My favorite story about Danoff's intensity comes from Bill Miller, who recalls being introduced to him at an investment conference in Phoenix about thirty years ago: "I stuck out my hand and I said, 'Nice to meet you, Will.' And he didn't hold his hand out. He just looked at me and said, 'I'm gonna beat you, man. I'm gonna beat you.

One of the nice things about video games as a metaphor is that you die all the time," he explained. "You play, you play, you play, you die. You play, you play, you die." It's a harmless way of learning "to accept constant loss and defeat over and over again. And it doesn't bother you. You just keep doing it. And that's what investing is.

Fifth, in a world that's increasingly geared toward short-termism and instant gratification, a tremendous advantage can be gained by those who move consistently in the opposite direction

It's all about deferred gratification," says Sleep. "When you look at all the mistakes you make in life, private and professional, it's almost always because you reached for some short-term fix or some short-term high. . . . And that's the overwhelming habit of people in the stock market.

A good teacher must be content to be a sower rather than a reaper," he said. "Teachers must not expect to see immediate, specific, concrete results of their efforts. If they have any effect upon their students, it will show up later in life, long after their students have left them." The same can be said of the pastoral ministry.

Sacrifices are no sacrifices when they are repaid a thousand fold.

A National Government cannot create good times. It cannot make the rain to fall, the sun to shine, or the crops to grow, but it can, by pursuing a meddlesome policy, attempting to change economic conditions, and frightening the investment of capital, prevent a prosperity and a revival of business which might otherwise have taken place.

The primary function of financial capitalism is to efficiently funnel money from those with an excess of it to those who need it.

But if you can understand the chapter's central point—that the value of a stock or a bond is simply the present value of its future income stream—then you will have a better grasp of the investment process than most professionals. As