Individual Quotes - Page 22

• I have known not a few men who, after reaching the summits of business success, found themselves miserable on attaining retirement age. They were so exclusively engrossed in their day-to-day affairs that they had no time for friend-making.... They may flatter themselves that their unrelaxing concentration on business constitutes patriotism of the highest order. They may tell themselves that the existing emergency will pass, and that they can then adopt different, more sociable, more friendly habits. [But] such a day is little likely to come for such individuals.

  B. C. Forbes

  Retirement, Business, Order

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• Many concerns now make part or the whole of their dividends from by-products that formerly went to waste. How do we, as individuals, utilize our principal by-product? Our principal by-product is, of course, our leisure time. Many years of observation forces the conclusion that a man's success or failure in life is determined as much by how he acts during his leisure as by how he acts during his work hours. Tell me how a young man spends his evenings and I will tell you how he is likely to spend the latter part of his life.

  B. C. Forbes

  Men, Years, Waste

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• Knowledge comes, but wisdom lingers, and I linger on the shore, And the individual withers, and the world is more and more.

  Alfred Lord Tennyson

  World, Shore

  1842 Poems,'Locksley Hall', l.141-2.

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• Americans, more than most people, believe that history is the result of individual decisions to implement conscious intentions. For Americans, more than most people, history has been that.... This sense of openness, of possibility and autonomy, has been a national asset as precious as the topsoil of the Middle West. But like topsoil, it is subject to erosion; it requires tending. And it is not bad for Americans to come to terms with the fact that for them too, history is a story of inertia and the unforeseen.

  George Will

  Believe, Erosion, People

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• Conservatives believe government's principal functions are the preservation of freedom and removal of restraints on the individual. Liberalism's ascent in the first two-thirds of this century reflected the new belief that government should also confer capacities on individuals. Liberalism's decline in the final third of this century has reflected doubts about whether government can be good at that, or whether government that is good at that is good for the nation's character.

  George Will

  Believe, Character, Government

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• Man is a free moral agent and can be magnanimous and deal disinterestedly, humanity is a definite goal, social justice is desirable and possible, individual lives may be gloriously diversified, uniquely individualized, and yet socially useful; or, these are mere phrases, snares to catch gulls, soothing syrup for our troubled souls.

  George Amos Dorsey

  Men, Justice, Goal

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• Let us investigate more closely this property common to animal and plant, this power of producing its likeness, this chain of successive existences of individuals, which constitutes the real existence of the species.

  Georges-Louis Leclerc, Comte de Buffon

  Real, Animal, Common

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• The thing that I have been emphasizing in my own work for the last few years has been the group approach. To try to buy groups of stocks that meet some simple criterion for being undervalued-regardless of the industry and with very little attention to the individual company.

  Benjamin Graham

  Simple, Years, Trying

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• Unless an investor has access to “incredibly high-qualified professionals,” they “should be 100 percent passive - that includes almost all individual investors and most institutional investors.

  David F. Swensen

  Investing, Should, Passive

  "Yale Gets Educated In Retirement Plans" by Dan Solin, www.huffingtonpost.com. August 23, 2016.

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• But whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who would disagree with the thrust of EMH: The stock market itself is a demanding taskmaster. It sets a high hurdle that few investors can leap.

  John C. Bogle

  Intelligent, Investing, Serious

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• Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.

  Holman W. Jenkins, Jr.

  Dream, Style, Marketing

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• Very little evidence was found that any individual fund was able to do significantly better than that which we expected from mere random chance.

  Michael Jensen

  Investing, Random Chance, Littles

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• Finally, the illusions of validity and skill are supported by a powerful professional culture. We know that people can maintain an unshakeable faith in any proposition, however absurd, when they are sustained by a community of like-minded believers. Given the professional culture of the financial community, it is not surprising that large numbers of individuals in that world believe themselves to be among the chosen few who can do what they believe others cannot.

  Daniel Kahneman

  Powerful, Believe, Skills

  Daniel Kahneman (2011). “Thinking, Fast and Slow”, p.247, Macmillan

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• Invest in low-turnover, passively managed index funds... and stay away from profit-driven investment management organizations... The mutual fund industry is a colossal failure... resulting from its systematic exploitation of individual investors... as funds extract enormous sums from investors in exchange for providing a shocking disservice... Excessive management fees take their toll, and manager profits dominate fiduciary responsibility.

  David F. Swensen

  Responsibility, Organization, Systematic

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• Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.

  John C. Bogle

  Risk, Investing, Fund

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• We can extrapolate from the study that for the long term individual investor who maintains a consistent asset allocation and leans toward index funds, asset allocation determines about 100% of performance.

  Roger G. Ibbotson

  Long, Investing, Study

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• Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individual issues.

  Benjamin Graham

  Issues, Investing, Movement

  Benjamin Graham (2009). “The Intelligent Investor, Rev. Ed”, p.31, Harper Collins

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• Thinking is hard. Making value judgments is difficult. It places you at pure creation, because there are so many times you'll have to say, "I don't know. I just don't know." Yet still you'll have to decide. And so you'll have to choose. You'll have to make an arbitrary choice. Such a choice - a decision coming from no previous personal knowledge - is called pure creation. And the individual is aware, deeply aware, that in the making of such decisions is the Self created.

  Neale Donald Walsch

  Inspirational, Religious, Thinking

  "Conversations with God". Book by Neale Donald Walsch, December 1998.

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• The individual has been crushed by our style of management today.

  W. Edwards Deming

  Style, Today, Management

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• We have to bring back the individual. Management has smothered the individual.

  W. Edwards Deming

  Management

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• Even with a margin of safety in the investor's favor, an individual security may work out badly. For the margin guarantees only that he has a better chance for profit than for loss - not that loss is impossible. But as the number of such commitments is increased the more certain does it become that the aggregate of the profits will exceed the aggregate of the losses.

  Benjamin Graham

  Commitment, Loss, Numbers

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• Situations in life often permit no delay; and when we cannot determine the course which is certainly best, we must follow the one which is probably the best. This frame of mind freed me also from the repentance and remorse commonly felt by those vacillating individuals who are always seeking as worthwhile things which they later judge to be bad.

  Rene Descartes

  Situations In Life, Worthwhile Things, Judging

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• The successful investor is usually an individual who is inherently interested in business problems.

  Philip Arthur Fisher

  Successful, Investing, Problem

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• You can't have the space for prosperity and success when you are obsessed with security. It is not possible to obtain unwavering security - physical, emotional, or economic - by having money. Keep in mind that security, like success, can be defined in many ways. If you focus less on how much your financial assets are worth, and more on what a creative and well-balanced individual you can be, security will take on a new meaning.

  Ernie J Zelinski

  Emotional, Space, Creative

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• Always feeling rushed is no way for a prosperity-minded individual to live. The objective of life is not to get through it as fast as possible.

  Ernie J Zelinski

  Feelings, Way, Life Is

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