Quotes

Analysts generally regard the stock market as the passive reflection of investors' expectations. But in fact, it is an active force in shaping them.

Equilibrium applies best only to markets that deal with known quantities. But financial markets deal with quantities that are not only largely unknown but unkownable.

People always have this emotional relationship with stocks, and once they have been bitten by something, it takes a while to get back into it.

One of the biggest mistakes investors make is to look at the last few years and assume that’s the new norm.

You have to learn to profit from market fluctuations rather than suffer from them.

Opportunity arises when the gap between reality and perception becomes significant.

Maybe it makes me old-fashioned, but investing to me is about owning great companies for many, many years.

I believe the reasons for selling a stock should be harmonized with the reasons for buying it.

In the end, we have to sell when basically the reasons for purchasing a company in the first place are not valid anymore.

You want always to think what not to do if you want to beat the index.

I know that stocks represent fractional ownership in businesses and that, over time, the stock market will reflect their true intrinsic values. And crises bring worries and fears that make many investors forget that simple fact.

I learned from great investors like Warren Buffett and Peter Lynch that you have to look at stocks not based on world events or economic data but almost in spite of them.