No matter how great the talent or efforts are, some things just take time. You can’t produce a baby in one month by getting nine women pregnant
7
Don’t pass up something that’s attractive today because you think you will find something better tomorrow
8
Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value
9
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks
All there is to invest is picking good stocks at good times and staying with them as long as they remain good companies
12
Buy a stock the way you would buy a house. Understand and like it such that you’d be content to own it in the absence of any market
13
Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.
It’s been an ideal period for investors: A climate of fear is their best friend. Those who invest only when commentators are upbeat end up paying a heavy price for meaningless reassurance