“If you want to try your luck at speculation, put aside a portion—the smaller the better—of your capital in a separate fund for this purpose… Never mingle your speculative and investment operations in the same account, nor in any part of your thinking.”
— Benjamin Graham
“Save like a pessimist and invest like an optimist.”
— Morgan Housel
“The four most dangerous words in investing: It’s different this time.”
— John Templeton
“All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.”
“All intelligent investing is value investing—acquiring more than you are paying for.”
“Extreme patience combined with extreme decisiveness. You may call that our investment process. Yes, it’s that simple.”
— Charlie Munger
“Before looking at new investments, we consider adding to old ones. If a business is attractive enough to buy once, it may well pay to repeat the process.”
— Warren Buffett
“There’s a big difference between probability and outcome: probable things fail to happen—and improbable things happen—all the time. That’s one of the most important things you can know about investment risk.”
— Howard Marks
“You would be better off if you got a punch card with 20 punches on it—and every financial decision you made you used up a punch.
You would think a long time before every investment decision. You would make good ones and you’d make big ones.”
— Warren Buffett
“There are substantial rewards for adopting a regular routine of investing and following it no matter what—and additional rewards for buying more shares when most investors are scared into selling.”
“If you want to succeed in investments, start early and try hard and keep doing it. All success comes that way, by and large.”
— Charlie Munger