Investment Quotes

We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.

Good big decisions do not take time at all, if they do you are in trouble.

The ability to say no is a tremendous advantage for an investor.

As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.

Be fearful when there is greed and be greedy when there is fear.

At age 19, I read a book [The Intelligent Investor] and what I'm doing today, at age 76, is running things through the same thought process I learned from the book I read at 19.

The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.

The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.

The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.

Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.

Long ago, Ben Graham taught me that "Price is what you pay; value is what you get." Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

Investing is simple, but not easy.

Do not take yearly results too seriously. Instead, focus on four or five-year averages.

Always invest for the long term.

Stocks are the only thing that people are happy to buy when the price goes up.

The investor of today does not profit from yesterday's growth.

What the wise do in the beginning, fools do in the end.

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

Never invest in a business you can't understand.

I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.