The true investor welcomes volatility ... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.
The truly big investment idea can usually be explained in a short paragraph. We like a business with enduring competitive advantages that is run by able and owner-oriented people. When these attributes exist, and when we can make purchases at sensible prices, it is hard to go wrong.
Wall Street is the only place people ride to in a Rolls Royce to get advice from people who take the subway.
Never speculate ... if you have savings, invest them in solid securities, lands, or property. The man who gambles upon the exchanges is in the condition of the man who gambles at the gaming table. He rarely, if ever, makes a permanent success.
The market has no morality.
I do not really understand the stock market.
As an anonymous participant in financial markets, I never had to weigh the social consequences of my actions ... I felt justified in ignoring them on the grounds that I was playing by the rules.
Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really tough the authorities will step in.
There should be some professional exam for these analysts. Most of the time they talk through their backsides.