Post New

It seems there are many very experienced investors on here with valuable insights on investing and life. I personally would be very interested to know your most valuable insights on both. Open thread. (Manlobbi may wish to move this)

Quotes applied to living mean a lot to me. These two allegedly said by Theodore Roosevelt are touchstones.

'Comparison is the thief of joy.'

'Being wise with time is 90% of wisdom.'

Both apply to investing. There will always be folks with more success, more money, more confidence, etc. Long term investing for me has been a time management process with most of the effort applied to managing/controlling my short-term emotional reactions.

Uwharrie

There are so many but these are a few quotes that have been and continue to be most meaningful to me:

'Successful investing takes time, discipline, and patience. No matter how great the talent or effort, some things just take time: You can't" produce a baby in one month by getting nine women pregnant.'-WEB

'The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd."-WEB

'Keep things simple and don't swing for the fences. When promised quick profits, respond with a quick "no."-WEB

"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."-WEB

"It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.'-WEB

"Basically, when you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you."-WEB

"Someone's sitting in the shade today because someone planted a tree a long time ago."-WEB

"You only have to do a very few things right in your life so long as you don't do too many things wrong."-WEB

'Compound interest is the eighth wonder of the world. He who understands it, earns it ' he who doesn't ' pays it.'-Einstein

'Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris ' I wanted the independence. I desperately wanted it.'-Munger

'Investing is where you find a few great companies and then sit on your ass.'-Munger

'All I want to know is where I'm going to die so I'll never go there.'-Munger

'Spend a little- you can't take it with you.'-Dad

'Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris ' I wanted the independence. I desperately wanted it.'-Munger'

Around 5.7 years ago - coincidentally, 1/10 of my life to that date - I retired from the practice of medicine.

We set up a tent, hired a caterer, a string quartet and a bartender, and invited maybe 50=60 of my closest/most admired associates (only about a quarter of whom were named "Doctor")

I took a moment while they ate to make some remarks on 25+ years of an overly hectic community oncology practice.

One quote from those remarks:

"I have a few heroes ' not very many ' and most of them are sitting in this tent. One exception is a man named Charlie Munger, whose 94th birthday happens to be today. Charlie is an honest, brilliant man of few words but of superb common sense, honed by a life of reading, thinking, and learning.

While in his thirties, Charlie founded what quickly became and still remains a very successful Los Angeles law practice, Munger, Tolles and Olson. Twenty years later, while in his early fifties, he left the practice of law. When asked why, he said that he didn't set out to be rich ' he set out to be independent. As usual, Charlie got it exactly right."

--sutton
who would do the same timing all over again

One of my favorites in addition to all the Buffett and Munger quotes is;

"All of humanity's problems stem from man's inability to sit quietly in a room alone" Pascal

Applicable to picking compounders and letting them run through all the markets gyrations.

Post New

Berkshire Hathaway FAQ

---

Contact Shrewd'm
Contact the developer of these message boards.