What you learn from history is the market goes down. It goes down a lot.
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There are economic facts and there’s economic predictions and economic predictions are a total waste.
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I’ve found that when the market’s going down and you buy funds wisely, at some point in the future you will be happy.
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A correction is nothing more than a Wall Street euphemism for losing a lot of money very rapidly.
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Behind all the smoke and noise on the market’s surface, it’s important to remember that companies — small, medium, and large — make up the market’s backbone. And corporate earnings drive stock prices.
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No one can predict with any certainty which way the next 1,000 points will be. Market fluctuations, while no means comfortable, are normal.
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You only need a few really big stocks in a lifetime to make a lot of money.
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One or two good stocks can make up for lots of losers, and produce superior results.
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Everyone says they’re a long-term investor until the market has one of its major corrections.
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When I ran Magellan Fund, the market had 9 declines of 10 percent or more in those 13 years. I had a perfect record. All 9 times, my fund went down.
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The real problem is not finding a good fund manager, it’s finding the right time horizon for your investing and what your temperament is for volatility.
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No method guarantees you’re not going to lose your shirt. I’ve done that many times. I’ve had stocks go from $11 to seven cents.
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You get recessions, you have stock market declines. If you don’t understand that’s going to happen, then you’re not ready. You won’t do well in the markets. If you go to Minnesota in January, you should know it’s gonna be cold. You don’t panic when the thermometer falls below zero.
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I didn’t spend any time predicting the economy, or the stock market. I spent all my time looking at companies.
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People spend an unbelievable amount of mental energy trying to pick what the market’s going to do, what time of the year to buy it. It’s just not worth it.
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It’s very understandable to have a quick, sizable correction, even if the fundamentals are fine.
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I have lost a lot of money in some bad savings and loans. I have lost money in bad banks. And I have lost money in electronics companies. It is very easy to lose money in the stock market.
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So the stock market will definitely have a correction. Everybody will say that it is the end of the world. I predict it. They will say the big one’s coming.
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At some point, we will have a major correction and everybody will get scared again, and we will have another buying opportunity.
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I’ve been fully invested at the start of all the major declines and I will be fully invested in the next one. I am not a market predictor, that’s for darn sure.
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Stocks are not lottery tickets. There’s a company behind every stock. If the company does well, the stock does well. It’s not that complicated.
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If you can’t explain to a 10-year-old in two minutes or less why you own a stock, you shouldn’t own it.
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When you have a family, and a house, and the market is going down, and you’re on margin, it’s probably too much pressure for you to do the right research and the right kind of thinking to make good decisions.
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My system for over 30 years has been this: When stocks are attractive, you buy them.
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People who have made money in the stock market usually bought companies that have done well over time.
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Every economic recovery since World War II has been preceded by a stock market rally. And these rallies often start when conditions are grim.
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Even in good markets we have declines and trying to predict its direction over the near term is an exercise in futility.
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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.
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The stock market has a 100% record, in the last 50 years, of predicting upturns in the economy. It’s never been wrong. It’s less than 50-50 on a downturn.
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You’re going to make mistakes. If you’re terrific in this business you’re right six times out of 10.
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I want a company that’s simple. They don’t have to make seven brilliant decisions every six months to keep going.
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I’ve always found that if you find 10 stocks you really like and buy three, you always pick the wrong three. So I just buy all 10.
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The single most important thing to me in the stock market for anyone is to know what you own.
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