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

"3. Don’t buy a stock just because you like the ‘tone’ of its annual report."
"The annual report may…reflect little more than the skill of the company’s public relations department in creating an impression about the company in the public mind."
-- Philip A. Fisher - "One of the don'ts for investors"

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

"14. Does the management talk freely to investors about its affairs when things are going well but "clam up" when troubles and disappointments occur?"
-- Philip A. Fisher - "One of the Fifteen points to look for in a common stock"



A story that was passed down from Ben Graham illustrates the lemminglike behavior of the crowd: Let me tell you the story of the oil prospector who met St. Peter at the Pearly Gates. When told his occupation, St. Peter said, "Oh, I'm really sorry. You seem to meet all the tests to get into heaven. But we've got a terrible problem. See that pen over there? That's where we keep the oil prospectors waiting to get into heaven. And it's filled, we haven't got room for even one more." The oil prospector thought for a minute and said, "Would you mind if I just said four words to those folks? I can't see any harm in that," said St. Pete. So the old-timer cupped his hands and yelled out, "Oil discovered in hell!" Immediately, the oil prospectors wrenched the lock off the door of the pen and out they flew, flapping their wings as hard as they could for the lower regions. "You know, that's a pretty good trick," St. Pete said. "Move in. The place is yours. You've got plenty of room." The old fellow scratched his head an
d said, "No. If you don't mind, I think I'll go along with the rest of them. There may be some truth to that rumor after all."
-- Warren Buffett on Benjamin Graham

When you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you.
-- Warren Buffett

"10. How good are the company’s cost analysis and accounting methods?
-- Philip A. Fisher - "One of the Fifteen points to look for in a common stock"

If you understand the business, you don't need to own very many of them. If you have a harem of 40 women, you never get to know any of them very well.
-- Warren Buffett

"Our favourite holding period is forever."
-- Warren Buffett

Mimicking the herd invites regression to the mean.
-- Charlie Munger

Beware the investment activity that produces applause; the great moves are usually greeted by yawns.
-- Warren Buffett

The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
-- Warren Buffett

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

"Over the long term it’s hard for a stock to earn a much better return than the business that underlies it earns."
-- Charlie Munger

"We believe that according the name ‘investors’ to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a ‘romantic’."
-- Warren Buffett

"Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results."
1974 Letter to Shareholders
-- Warren Buffett

In the short run, the market is a voting machine; in the long run, it's a weighing machine.
-- Warren Buffett

“My family won’t receive huge amounts of my net worth. That doesn’t mean they’ll get nothing. My children have already received some money from me and Susie and will receive more. I still believe in the philosophy – FORTUNE quoted me saying this 20 years ago – that a very rich person should leave his kids enough to do anything but not enough to do nothing.”
-- Warren Buffett

"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