You should not buy a stock because it's cheap but because you know a lot about it.
Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.
Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
The real key to making money in stocks is not to get scared out of them.
Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.
Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.
All the math you need in the stock market you get in the fourth grade.
In the long run, it's not just how much money you make that will determine your future prosperity. It's how much of that money you put to work by saving it and investing it.
Investing is fun and exciting, but dangerous if you don't do any work.
Everyone has the brain power to make money in stocks. Not everyone has the stomach.
The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.
Know what you own, and know why you own it.
I deal in facts, not forecasting the future. That's crystal ball stuff. That doesn't work.
When you sell in desperation, you always sell cheap.
If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes
Your investor's edge is not something you get from Wall Street experts. It's something you already have. You can outperform the experts if you use your edge by investing in companies or industries you already understand.
A price drop in a good stock is only a tragedy if you sell at that price and never buy more. To me, a price drop is an opportunity to load up on bargains from among your worst performers and your laggards that show promise. If you can't convince yourself "When I'm down 25 percent, I'm a buyer" and banish forever the fatal thought "When I'm down 25 percent, I'm a seller," then you'll never make a decent profit in stocks.
Time is on your side when you own shares of superior companies.
If you can't find any companies that you think are attractive, put your money in the bank until you discover some.
Invest in what you know.
Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested
An important key to investing is to remember that stocks are not lottery tickets.
You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot.
Often, there is no correlation between the success of a company's operations and the success of its stock over a few months or even a few years. In the long term, there is a 100 percent correlation between the success of the company and the success of its stock. This disparity is the key to making money; it pays to be patient, and to own successful companies.
It only takes a handful of big winners to make a lifetime of investing worthwhile.
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