Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.
Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.
Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested
Everyone has the brain power to make money in stocks. Not everyone has the stomach.
You should not buy a stock because it's cheap but because you know a lot about it.
Know what you own, and know why you own it.
The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.
Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.
The real key to making money in stocks is not to get scared out of them.
In the long run, it's not just how much money you make that will determine your future prosperity. It's how much of that money you put to work by saving it and investing it.
If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes
Charts are great for predicting the past.
Often, there is no correlation between the success of a company's operations and the success of its stock over a few months or even a few years. In the long term, there is a 100 percent correlation between the success of the company and the success of its stock. This disparity is the key to making money; it pays to be patient, and to own successful companies.
You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot.
In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
The simpler it is, the better I like it.
Just because you buy a stock and it goes up does not mean you are right. Just because you buy a stock and it goes down does not mean you are wrong.
A price drop in a good stock is only a tragedy if you sell at that price and never buy more. To me, a price drop is an opportunity to load up on bargains from among your worst performers and your laggards that show promise. If you can't convince yourself "When I'm down 25 percent, I'm a buyer" and banish forever the fatal thought "When I'm down 25 percent, I'm a seller," then you'll never make a decent profit in stocks.
When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.
Investing in stocks is an art, not a science, and people who've been trained to rigidly quantify everything have a big disadvantage.
Long shots almost always miss the mark.
What makes stocks valuable in the long run isn't the market. It's the profitability of the shares in the companies you own. As corporate profits increase, corporations become more valuable and sooner or later, their shares will sell for a higher price.
The stock market really isn't a gamble, as long as you pick good companies that you think will do well, and not just because of the stock price.
It only takes a handful of big winners to make a lifetime of investing worthwhile.
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