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Quotes on Market Cycle

Quote Categories

Active Management, Aging, Bear Market, Behavior, Benchmarks, Bonds, Bull Market, Business, Career, Cash, Cash Flow, Competitive Advantage, Compound Return, Cyclical Stocks, Decisions, Diversification, Dividends, Earnings, Economic Cycle, Economics, Economists, Expansion, Fees, Forecasting, Gambling, Gold, Growth Stocks, Index Funds, Inflation, Interest Rate, Investing, Knowledge, Liquidity, Losses, Management, Margin Trading, Market Bubbles, Market Correction, Market Crash, Market Cycle, Market Efficiency, Market History, Market Timing, Math, Mistakes, Probability, Recession, Return, Risk, Risk Management, Savings, Security Analysis, Selling, Shareholders, Short Selling, Special Situations, Speculation, Stock Market, Stock Picking, Stocks, Taxes, Technology, Time Horizon, Turnover, Uncertainty, Valuation, Value Investing, Volatility, Wall Street,

Quote Authors

Benjamin Graham, Bernard Baruch, Charles Ellis, Charlie Munger, Chuck Akre, Daniel Kahneman, David Abrams, Dean Williams, Edward Thorp, Edwin Lefevre, Fred Schwed Jr, Henry Singleton, Hetty Green, Howard Marks, Joel Greenblatt, John Bogle, John Kenneth Galbraith, John Maynard Keynes, John Stuart Mill, John Templeton, Meir Statman, Myron Scholes, Peter Bernstein, Peter Lynch, Philip Carret, Philip Fisher, Richard Thaler, Robert Shiller, Seth Klarman, Stanley Druckenmiller, Walter Schloss, Warren Buffett,

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Please do not forget that as the common stock level advances, the advantages of common stocks appear to be more attractive and the basic need for owning them becomes more persuasive in everybody’s reasoning. Yet in fact, common stocks undoubtedly become riskier as the price advances, and thus the risk increases as the widespread acceptance of common stock develops.
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Benjamin Graham
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The history of markets is one of overreaction in both directions.
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Peter Bernstein
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In Wall Street, what has happened before will happen again. It must, as you will admit if you stop to think about it.
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Edwin Lefevre
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While majority opinion can give any market movement considerable momentum that keeps it going in the same direction, majority opinion is inevitably and consistently wrong at turning points.
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Peter Bernstein
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The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.
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Warren Buffett
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If the stock market has a period of outperformance of its long-term return, it is inevitably followed by some period of underperformance. But people being optimistic and greedy by nature take the recent short-term outperformance of stocks as a sign of good things to come, rather than a warning of bad things to come.
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Seth Klarman
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The whole reason that our capitalist system works the way it does is because there are cycles, and the cycles self-correct.
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Seth Klarman
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The true investment challenge is to perform well in difficult times.
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Seth Klarman
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Any contrarian knows that just as a grim present is usually precursor to a better future, a rosy present may be precursor to a bleaker tomorrow.
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Seth Klarman
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If you're in the market, you have to know there's going to be declines.
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Peter Lynch
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The constant lesson of history is the dominant role played by surprise. Just when we are most comfortable with an environment and come to believe we finally understand it, the ground shifts under our feet.
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Peter Bernstein
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Unless you are that rarest of birds, someone who is cool under the rapid-fire, high-pressure decision making required to maximize your returns, let others take such risks, and allow your portfolio to plug along at a slower speed. In investing, tortoises tend to win far more often than hares over the turns of the market cycle.
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Peter Bernstein
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The fact is that strategies that perform sub-optimally under certain market conditions can work surprisingly well in others.
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Peter Bernstein
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Just as in the realm of pugilism, a few years of soft living will make a Dempsey easy prey for a Tunney, so a period of prosperity contains the seeds of its own destruction.
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Philip Carret
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The man in the street associates the acquisition of wealth with rising markets; failures, ruin, depression, panics with falling markets.
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Philip Carret
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When things go badly, people become cautious. Then their caution causes things to go well, and when things go well, they become incautious. I think that's a forever cycle.
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Howard Marks
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The strange revolutions wrought by time are nowhere so evident as in the securities market, where an accurate comparison of the present with the past is afforded by the price record over a period of years.
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Benjamin Graham
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The only significance of stock market gyrations to the true investor is that they give him an opportunity to buy good common stocks when they are cheap -- or at least reasonably priced -- and at times offer him an invitation to sell out at temptingly high levels.
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Benjamin Graham
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The only thing you can be sure of is that there are times when large numbers of stocks are priced too high and other times when they're priced too low.
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Benjamin Graham
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It is a safe prediction for me to make that, in future years as in the past, common stocks will advance too far and decline too far, and that investors, like speculators -- and institutions, like individuals -- will have their periods of enchantment and disenchantment with equities.
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Benjamin Graham
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Experience in former markets indicates that just as they are too high in bull markets, they get too low in bear markets.
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Benjamin Graham
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Bull markets and bear markets last long enough so that the average trader is likely to forget by the time the climax is approaching that any sort of movement is possible.
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Philip Carret
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The market cycle of the future may prove to be surprisingly independent of the business cycle, and it may even exist if there is no business cycle -- which is in itself quite an assumption, but not an entire impossibility.
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Benjamin Graham
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Whether stocks rise or fall is determined by innumerable forces and elements, by economic conditions, the actions of governments, the state of international affairs, the emotions of people -- even the vagaries of the weather.
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Bernard Baruch
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The impression has built up that the stock market is the cause of booms and busts. Actually, it is the thermometer -- not the fever.
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Bernard Baruch
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The broad pattern of market action in the past is the best guide to the future -- but it is not an infallible guide.
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Benjamin Graham
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Allied to the general pattern of market movements is the general pattern of speculative thinking.
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Benjamin Graham
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The market cycle will once more prove to be the human-nature cycle; its economic background will have changed, but not its basic character nor the consequences of its character.
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Benjamin Graham
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