These quotes are the best I have found. They are mainly related
with my passion: investing. By refreshing the page you get new
random quotes from my collection, feel free to contact me.
Cheers! jrv

“So if the entire country became securities analysts, memorized Benjamin Graham’s Intelligent Investor and regularly attended Warren Buffett’s shareholder meetings, most people would, nevertheless, find themselves irresistibly drawn to hot initial public offerings, momentum strategies and investment fads… People would, in short, still be attracted to short-term, get rich quick schemes.
-- Seth Klarman

"It's class warfare, my class is winning, but they shouldn't be."
- CNN Interview, May 25 2005, in arguing the need to raise taxes on the rich.
-- Warren Buffett

The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage. Look for more value in terms of discounted future cash-flow than you are paying for. Move only when you have an advantage.

It’s not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a mispriced bet - that they can occasionally find one.
-- Charlie Munger



Everyone has the brainpower to make money in stocks. Not everyone has the stomach. If you are susceptible to selling everything in a panic, you ought to avoid stocks and stock mutual funds altogether.
-- Peter Lynch

"You leave yourself an enormous margin of safety. You build a bridge that 30,000-pound trucks can go across and then you drive 10,000-pound trucks across it. That is the way I like to go across bridges."
- Financial World, June 13, 1984.

General knowledge, no matter how great in quantity or variety it may be, is of but little use in the accumulation of money. The faculties of the great universities possess, in the aggregate, practically every form of general knowledge known to civilization. Most of the professors have but little money. They specialize on teaching knowledge, but they do not specialize on the organization, or the use of knowledge.
-- Napoleon Hill

Above all, never fool yourself, and remember that you are the easiest person to fool.
-- Charlie Munger

"The investor cannot pinpoint just how much per share a particular company will earn two years from now. As a matter of fact, the company's top management cannot. Under these circumstances, how can anyone say with even moderate precision just what is overpriced for an outstanding company with an unusually rapid growth rate? If the growth rate is so good that in another ten years the company might well have quadrupled, is it really of such great concern whether at the moment the stock might or might not be 35% overpriced? That which really matters is not to disturb a position that is going to be worth a great deal more later."
-- Philip A. Fisher

"If you don't know jewellery, know the jeweller."
-- Warren Buffett

The value of a business is the cash it's going to produce in the future.
-- Warren Buffett

"There seems to be some perverse human characteristic that likes to make easy things difficult."
-- Warren Buffett

"4. Does the company have an above average sales organization?"
-- Philip A. Fisher - "One of the Fifteen points to look for in a common stock"

"I really like my life. I've arranged my life so that I can do what I want."
-- Warren Buffett

"12. Does the company have a short-range or long-range outlook in regards to profits?"
-- Philip A. Fisher - "One of the Fifteen points to look for in a common stock"

"I am out of step with present conditions. When the game is no longer played your way, it is only human to say the new approach is all wrong, bound to lead to trouble, and so on. On one point, however, I am clear. I will not abandon a previous approach whose logic I understand ( although I find it difficult to apply ) even though it may mean foregoing large, and apparently easy, profits to embrace an approach which I don't fully understand, have not practiced successfully, and which possibly could lead to substantial permanent loss of capital."
- in a letter to his partners in the stock market frenzy of 1969.
-- Warren Buffett

"If you think we are in trouble because the stock price went down, you don’t understand the situation"
-- Charlie Munger

There is one quality which one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it.
-- Napoleon Hill

"Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac's talents didn't extend to investing: He lost a bundle in the South Sea Bubble, explaining later, 'I can calculate the movement of the stars, but not the madness of men.' If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases."
- Berkshire Hathaway 2005 Chairman's Letter
-- Warren Buffett