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..."I did not know then what I learned later, what made me fifteen years later, wait two long weeks and see a stock on which I was very bullish go up thirty points before I felt that it was safe to buy it. I was broke and was trying to get back, and so I waited. That was in 1915."...

Jesse Livermore


..."If you don't read the newspaper, you're uninformed. If you read the newspaper, you're mis-informed."...


Mark Twain

..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell"..

John Templeton


.."Money can't buy you happiness but it does bring you a more pleasant form of misery"..

Spike Milligan


My experience has been that in successful businesses and fund management companies, which performed well over the long-term, some courageous decisions were taken. Courageous fund managers reduce their positions when markets become frothy and accumulate equities when economic and social conditions are dire. They avoid the most popular sectors, which are therefore over-valued, and invest in neglected sectors because being neglected by investors they are by definition inexpensive. The point is that it is very hard and that it takes a lot of courage for a fund manager to avoid the most popular sectors and stocks and to invest in unloved assets. Finally, every investor understands the principle ‘buy low and sell high’, but when prices are low nobody wants to buy.

Marc Faber