3. Warren Buffett
“‘Price is what you
pay; value is what
you get.’ Whether
we’re talking about
socks or stocks, I like
buying quality
merchandise when
it is marked down.”
4. George Soros
”I’m only rich
because I know when
I’m wrong…I basically
have survived
by recognizing my
mistakes.”
5. David Rubenstein
“Persist – don’t take no
for an answer. If you’re
happy to sit at your desk
and not take any risk,
you’ll be sitting at your
desk for the next 20
years.”
6. Ray Dalio
“More than anything
else, what differentiates
people who live up to
their potential from
those who don’t is a
willingness to look at
themselves and others
objectively.”
7. Eddie Lampert
“This idea of anticipation is
key to investing and to
business generally. You
can’t wait for an
opportunity to become
obvious. You have to think,
“Here’s what other people
and companies have done
under certain
circumstances. Now, under
these new circumstances,
how is this management
likely to behave?”
8. T. Boone Pickens
“The older I get,
the more I see a
straight path
where I want to
go. If you’re going
to hunt elephants,
don’t get off the
trail for a rabbit.”
9. Charlie Munger
“If you took our top
fifteen decisions out,
we’d have a pretty
average record. It
wasn’t hyperactivity,
but a hell of a lot of
patience. You stuck to
your principles and
when opportunities
came along, you
pounced on them with
vigor.”
10. David Tepper
“This company looks
cheap, that company
looks cheap, but the
overall economy could
completely screw it
up. The key is to wait.
Sometimes the
hardest thing to do is
to do nothing.”
11. Benjamin Graham
“The individual investor
should act consistently as an
investor and not as a
speculator. This means that
he should be able to justify
every purchase he makes
and each price he pays by
impersonal, objective
reasoning that satisfies him
that he is getting more than
his money’s worth for his
purchase.”
13. Paul Tudor Jones
“Were you want to be is
always in control, never
wishing, always trading, and
always, first and foremost
protecting your butt. After a
while size means nothing. It
gets back to whether you’re
making 100% rate of return
on $10,000 or $100 million
dollars. It doesn’t make any
difference.”
14. Bruce Kovner
” My experience with novice
traders is that they trade
three to five times too big.
They are taking 5 to 10
percent risks on a trade
when they should be taking
1 to 2 percent risks. The
emotional burden of trading
is substantial; on any given
day, I could lose millions of
dollars. If you personalize
these losses, you can’t
trade.”
16. Peter Lynch
“I think you have to learn
that there’s a company
behind every stock, and
that there’s only one real
reason why stocks go up.
Companies go from doing
poorly to doing well
or small companies grow
to large companies.”
17. John Templeton
“The time of maximum
pessimism is the best
time to buy and the time
of maximum optimism is
the best time to sell.”
18. John (Jack) Bogle
you shouldn’t be in
stocks.” “If you have
trouble imagining a
20% loss in the stock
market