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

"The conventional view serves to protect us from the painful job of thinking."
-- John Kenneth Galbraith

"Price is what you pay. Value is what you get."
-- Warren Buffett

Find out what you really love to do, and then find a way to make a good living doing it.
-- Napoleon Hill



"First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy."
- 2000 Letter to Shareholders
-- Warren Buffett

"If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during that period?"Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall."This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices."
- 1997 Chairman's Letter to Shareholders
-- Warren Buffett

"When they open that envelope, the first instruction is to take my pulse again."
- 2001 Annual Meeting after mentioning that the instructions of his succession are sealed in an envelope at headquarters.
-- Warren Buffett

I don't want to buy any stock where if they close the New York Stock Exchange tomorrow for five years I won't be happy owning it. I buy a farm and I don't get a quote on it for five years and I'm happy if the farm does ok. I buy an apartment house, don't get a quote on it for five years - I'm happy if the apartment house produces the returns that I expect. But people buy a stock and they look at the price the next morning and they decide if they're doing well or not doing well. It's crazy because they're buying a piece of a business.
-- Warren Buffett

Avoid working directly under somebody you don't admire and don't want to be like.
-- Charlie Munger

"If a business earns 6% on capital over forty years, you’re not going to make much different than 6% return, even if you buy it at a huge discount. Conversely, if a business earns 18% on capital, you’ll end up with one hell of a return long term, even if you pay an expensive looking price."
-- Charlie Munger

"The chief losses to investors come from the purchase of low quality securities at times of favorable business conditions"
-- Benjamin Graham

What we really want to do is buy businesses that we would be happy to own forever.
-- Warren Buffett

"Great stocks are extremely hard to find. If they weren’t, then everyone would own them."
-- Philip A. Fisher

Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
-- 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"

"When returns on capital are ordinary, an earn-more-by-putting-up-more record is no great managerial achievement. You can get the same result personally while operating from your rocking chair. just quadruple the capital you commit to a savings account and you will quadruple your earnings. You would hardly expect hosannas for that particular accomplishment. Yet, retirement announcements regularly sing the praises of CEOs who have, say, quadrupled earnings of their widget company during their reign - with no one examining whether this gain was attributable simply to many years of retained earnings and the workings of compound interest."
- 1985 Chairman's Letter to Shareholders
-- Warren Buffett

I find it quite useful to think of a free-market economy - or partly free market economy - as sort of the equivalent of an ecosystem. Just as animals flourish in niches, people who specialize in some narrow niche can do very well.
-- Charlie Munger

"The big money is not in the buying and selling, but in the waiting"

The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts.
-- Bertrand Russel