Before this century is over, the Dow Jones Industrial Average will probably be over one million versus around 10,000 now. So for the long-term, the outlook is tremendously bullish if you buy stocks blindly to keep for a century.
The other boys at Yale came from wealthy families, and none of them were investing outside the United States, and I thought, 'That is very egotistical. Why be so shortsighted or near-sighted as to focus only on America? Shouldn't you be more open-minded?'
Diversify your investments.
Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.
There is no calamity greater than lavish desires. There is no greater guilt than discontent. And there is no greater disaster than greed.
Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.
It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong
A good parson once said that where mystery begins religion ends. Cannot I say, as truly at least, of human laws, that where mystery begins justice ends?
When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
Investing intelligently in those of us who are marginalised means fewer people in jail, fewer homeless, fewer unemployed, fewer of us who are forlorn and depressed, fewer people addicted to things that drag us down... Because as we invest in those that do it tough, we will see more Australians taking pride in themselves, having realisable dreams and aspirations and making their own positive contribution to the world's greatest nation.
The difference between successful people and really successful people is that really successful people say no to almost everything.
He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!
Experience has proved to me that real money made in speculating has been in commitments in a stock or commodity showing a profit right from the start.
It is literally true that millions come easier to a trader after he knows how to trade, than hundreds did in the days of his ignorance.
There is only one side to the stock market; and it is not the bull side or the bear side, but the right side
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
The average man doesn't wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think.
"I can't sleep" answered the nervous one. "Why not?" asked the friend. "I am carrying so much cotton that I can't sleep thinking about. It is wearing me out. What can I do?" "Sell down to the sleeping point", answered the friend.
He will risk half his fortune in the stock market with less reflection that he devotes to the selection of a medium-priced automobile.
"On Pat Hearne - He made money in stocks, and that made people ask him for advice. He would never give any. If they asked him point-blank for his opinion about the wisdom of their commitments he used a favorite race-track maxim of his: "You can't tell till you bet.""
I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up.
In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices breaks through the limit in either direction.
I don't know whether I make myself plain, but I never lose my temper over the stock market. I never argue with the tape. Getting sore at the market doesn't get you anywhere.
Instead of hoping he must fear and instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.
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