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Quote by Peter Cundill

“Why will someone sell you a dollar for 50 cents? Because in the short run, people are irrational on both the optimistic and pessimistic side.”

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Peter Cundill

Peter Cundill was a prominent investor in the financial industry, whose investment philosophy and strategies had a profound impact on global investors. more

“One of the dangers about net-net investing is that if you buy a net-net that begins to lose money your net-net goes down and your capacity to be able to make a profit becomes less secure. So the trick is not necessarily to predict what the earnings are going to be but to have a clear conviction that the company isn't going bust and that your margin of safety will remain intact over time.”

Ifs Able Loses Company Clear Danger Capacity Down And Safety Investing Profit Conviction Tricks Secure Earning Margins

Author:Peter Cundill

“When a stock doubles, sell half - then what you have is a free position. Then it becomes more of an art form. When you sell depends on individual circumstances.”

Art Form Individual Half Position Depends Circumstances Sells

Author:Peter Cundill

“Your life is your ship and you are the captain. Choose your course, take the wheel firmly and get on your way.”

Way Life Is Courses Ships Wheels Captains

Author:Michael Josephson

“Bernie Ebbers and Ken Lay were caricatures - they were easy to spot. They were almost psychopaths. But it's much harder to spot problems at companies like Royal Dutch [Shell].”

Problem Easy Company Harder Lays Spots Shells Royal Dutch Caricatures Psychopath

Author:Charlie Munger

“Well in the history of the See's Candy Company they always say, "I never did it before, and I'm never going to do it again." And we cashier them. It would be evil not to, because terrible behavior spreads.”

Wells Would Be Evil Company Terrible Behavior Spread Candy Cashiers

Author:Charlie Munger

“We're guessing at our future opportunity cost. Warrenis guessing that he'll have the opportunity to put capital out at high rates of return, so he's not willing to put it out at less than 10% now. But if we knew interest rates would stay at 1%, we'd change. Our hurdles reflect our estimate of future opportunity costs.”

Ifs Opportunity Interest Willing Return Cost Rate Our Future Guessing Interest Rate Hurdle Opportunity Cost

Author:Charlie Munger

“It's not the bad ideas that do you in, but the good ones.”

Ideas Bad Ideas

Author:Charlie Munger

“I'm very pleased when the smartest people come [to the U.S.] and almost never pleased when the very bottom of the mental barrel comes in.”

People Bottom Barrels

Author:Charlie Munger

“We have never had the will to enforce the immigration laws. What you see is what you'll continue to get.”

Law Immigration Immigration Laws

Author:Charlie Munger

“Expect hogs to eat a lot more in the presence of a lot of hog wash.”

Hog

Author:Charlie Munger

Quote by Peter Cundill

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