Quotes

People who have made money in the stock market usually bought companies that have done well over time.

Every economic recovery since World War II has been preceded by a stock market rally. And these rallies often start when conditions are grim.

Market timing is speculating and it rarely, if ever, pays off.

Even in good markets we have declines and trying to predict its direction over the near term is an exercise in futility.

The key is to save as much as you can, as early as you can.

It would be very useful to know what the market is going to do. But unfortunately, of all the market corrections that have ever come, no one has been able to predict them.

Every great money manager I've ever met, all they want to talk about is their mistakes. There's a great humility there.

It's liquidity that moves markets.

I think diversification and all the stuff they're teaching at business school today is probably the most misguided concept everywhere.

It’s not as simple as having timid people and bold people. Some people will be risk averse in one circumstance and not so averse in another. It’s oversimplifying human nature to think we can put people into those two categories as the only psychological measure we use.

The problem with the markets is that they are just like people, and individual investors can easily get confused.

I would like to see more volatility in the markets. Small shocks remind us that a bigger shock might occur. And, we protect ourselves to some extent.