Interesting Quotes

"Investment is most intelligent when it is most businesslike" - Ben Graham

"Investing is a strange business. It's the only one we know of where the more expensive the products get, the more customers want to buy them" - Anthony M Gallea

Warren Buffett Quotes:
"I will tell you how to become rich. Be fearful when others are greedy. Be greedy when others are fearful."
"I don't try to jump over seven-foot bars. I look around for one-foot bars that I can step over."

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
“Risk comes from not knowing what you're doing.”
“Wide diversification is only required when investors do not understand what they are doing.”
“Only when the tide goes out do you discover who's been swimming naked”
“You only have to do a very few things right in your life so long as you don't do too many things wrong.”
“If a business does well, the stock eventually follows.”
“There seems to be some perverse human characteristic that likes to make easy things difficult.” “Our favourite holding period is forever.”
“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”
“A public-opinion poll is no substitute for thought.”
“It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
“The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.”
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.”
“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.”
“I always knew I was going to be rich. I don't think I ever doubted it for a minute.”
“If past history was all there was to the game, the richest people would be librarians”
“You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.”
“When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”
“We believe that according the name "investors" to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a "romantic”
“Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.”
“I’d be a bum on the street with a tin cup if the markets were always efficient.”
http://en.wikiquote.org/wiki/Warren_Buffett

Charles T. Munger
"Read all the time"
"Be prepared, act promptly, in scale, on a few major opportunities."
"It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities"
"Compound interest is the eighth wonder of the world" - Einstein "Never interrupt it unnecessarily" - Munger