Words of Wisdom from a few of the Wise…

Warren Buffett: Be greedy when others are fearful.

 "Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful."
  -Source: 2004 shareholder letter








Philip Fisher: Know the value of your investments.
 

“The stock market is filled with individuals who know the price of everything, but the value of nothing.”
 - Source: Investopedia









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Barton Biggs: There are no relationships or equations that always work.

"Quantitatively based solutions and asset allocation equations invariably fail as they are designed to capture what would have worked in the previous cycle whereas the next one remains a riddle wrapped in an enigma."
  - Source: Barton Biggs via The Gartman Letter








 
John Templeton: This time is not different.

"The four most dangerous words in investing are 'This time it's different.'"
  -Source: Marketwatch










 
Ken Fisher: Keep history in mind.

"You can’t develop a portfolio strategy around endless possibilities. You wouldn’t even get out of bed if you considered everything that could possibly happen... you can use history as one tool for shaping reasonable probabilities. Then, you look at the world of economic, sentiment and political drivers to determine what’s most likely to happen—while always knowing you can be and will be wrong a lot."
  -Source: Markets Never Forget (But People Do)




 
Charles Ellis: Invest for the long run.

"The average long-term experience in investing is never surprising, but the short term experience is always surprising. We now know to focus not on rate of return, but on the informed management of risk"
  -Source: Winning The Loser's Game








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Thomas Rowe Price Jr.: Know who's running the business, and why.

“Every business is manmade. It is a result of individuals. It reflects the personalities and the business philosophy of the founders and those who have directed its affairs throughout its existence. If you want to have an understanding of any business, it is important to know the background of the people who started it and directed its past and the hopes and ambitions of those who are planning its future.”
  -Source: Valuewalk








 


Peter Lynch: Do your homework.



"Investing without research is like playing stud poker and never looking at the cards."
   - Source: One Up On Wall Street











 
John Neff: Do what's smart, not what's popular.

"It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their real value is recognized."
   -Source: John Neff On Investing