Quotes About Investing

for a large majority of fund managers, the selection of stocks is more like rolling dice than like playing poker. Typically at least two out of every three mutual funds underperform the overall market in any given year.

In a paper titled "Trading Is Hazardous to Your Wealth," they showed that, on average, the most active traders had the poorest results, while the investors who traded the least earned the highest returns.

the evidence from more than fifty years of research is conclusive: for a large majority of fund managers, the selection of stocks is more like rolling dice than like playing poker.

the most important key to building wealth is becoming and remaining debt-free.

We enjoy earning interest now, rather than paying it.

Wealth-building is a crockpot, not a microwave.

The problem isn't our income; it's what we do with our money once we get it... how much you earn has almost no bearing on whether or not you can and will build wealth.

Nothing freely given is a good thing when it comes to investing

Markets always place the greatest pressures on the weakest holders.

Ethan and I drove around Silicon Valley today looking at various company parking lots to see whose workers are working on a Sunday. He says that's the surest way to tell which company to invest in. If the techies aren't grinding, the stock ain't climbing.

Diversification has been, and balance, like Wellington, has been so drummed into me, it's part of my personality.

With a private company, you've got to get into who's investing and what's the balance sheet like. So going public is a positive thing from the perspective of the sales organization.

The philosophy to 'buy and hold' is a philosophy that I use to manage funds.

I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons.

The better I get at investing in and helping companies, the result is more founders who are excited to work with me and more of my wonderful limited partners insisting I take piles of their loot to keep it all going.

I like Burton Malkiel's 'A Random Walk Down Wall Street.' He comes to the same conclusion that I do - that indexing is the way. My 'Little Book of Common Sense Investing' says pretty much the same thing.

Individual participation in the stock market through 401(k)s helped fuel the go-go days of Wall Street in the 1980s and birthed asset management juggernauts like Fidelity, Vanguard, Pimco, BlackRock, and dozens of others.

Most stocks bought and sold on Wall Street are held in what's called 'street name.'

'The Big Short' is, among other things, a blistering, detailed indictment of the way Wall Street does business, and its particular villains are the investment banks.

Have rational expectations for future returns and avoid changing those expectations in response to the ephemeral noise coming from Wall Street.

The strongest bull markets I've been in are built on walls of worry.

Much like Warren Buffett has said very famously - he doesn't buy technology stocks because he doesn't understand them- I will not buy consumer goods companies because I do not understand them.

If Warren Buffett could change his mind about investing in airlines, Mohnish Pabrai could change his mind about investing in autos. Pabrai, who has modeled his investment career and fee structure after Buffett's original partnership, counts General Motors, Fiat Chrysler, and Ferrari in his highly concentrated portfolio.

At one point, I recognized that Warren Buffett, though he had every advantage in learning from Ben Graham, did not copy Ben Graham but, rather, set out on his own path and ran money his way, by his own rules... I also immediately internalized the idea that no school could teach someone how to be a great investor.