Value investing quotes from famous value investor gurus.
“Rule #1: Never Lose Money; Rule #2: Never forget Rule #1.” -Warren Buffett
"It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent." - Charlie Munger
Risk means the chance of a loss of capital. Uncertainty is the range of different outcomes. So a stock may have high uncertainty but may not be risky, if no one knows what will happen and the worst-case scenario would not result in a huge loss. These investments provide the greatest opportunities - Mohnish Pabrai
"We don't have to be smarter than the rest. We have to be more disciplined than the rest." -Warren Buffett
We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely." - Warren Buffett
"Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. Rather, we have consistently tried not to lose money and, in doing so, have not only protected on the downside but also outperformed on the upside." - Seth Klarman
Predicting floods doesn’t count; building arks does. - Warren Buffett
"As time goes on, I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one knows something about... It is a mistake to think that one limits risk by spreading too much between enterprises about which one knows little and has no reason for special confidence..." - John Maynard Keynes
“In my opinion, there are two key concepts that investors must master: value and cycles. For each asset you’re considering, you must have a strongly held view of its intrinsic value. When its price is below that value, it’s generally a buy. When its price is higher, it’s a sell. In a nutshell, that’s value investing. - Howard Marks
“Discovery is looking at what everyone else sees, and seeing what everyone else misses.” -Kauffman Foundation
"The stock market is filled with individuals who know the price of everything, but the value of nothing." - Phil Fisher
Markets exist because of differences of opinion among investors. If securities could be valued precisely, there would be many fewer differences of opinion; market prices would fluctuate less frequently, and trading activity would diminish. - Seth Klarman
“Rule #1: Never Lose Money; Rule #2: Never forget Rule #1.” -Warren Buffett
"It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent." - Charlie Munger
Risk means the chance of a loss of capital. Uncertainty is the range of different outcomes. So a stock may have high uncertainty but may not be risky, if no one knows what will happen and the worst-case scenario would not result in a huge loss. These investments provide the greatest opportunities - Mohnish Pabrai
"We don't have to be smarter than the rest. We have to be more disciplined than the rest." -Warren Buffett
We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely." - Warren Buffett
"Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. Rather, we have consistently tried not to lose money and, in doing so, have not only protected on the downside but also outperformed on the upside." - Seth Klarman
Predicting floods doesn’t count; building arks does. - Warren Buffett
"As time goes on, I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one knows something about... It is a mistake to think that one limits risk by spreading too much between enterprises about which one knows little and has no reason for special confidence..." - John Maynard Keynes
“In my opinion, there are two key concepts that investors must master: value and cycles. For each asset you’re considering, you must have a strongly held view of its intrinsic value. When its price is below that value, it’s generally a buy. When its price is higher, it’s a sell. In a nutshell, that’s value investing. - Howard Marks
“Discovery is looking at what everyone else sees, and seeing what everyone else misses.” -Kauffman Foundation
"The stock market is filled with individuals who know the price of everything, but the value of nothing." - Phil Fisher
Markets exist because of differences of opinion among investors. If securities could be valued precisely, there would be many fewer differences of opinion; market prices would fluctuate less frequently, and trading activity would diminish. - Seth Klarman
