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Quote by Bernard Baruch

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Bernard Baruch
Bernard Baruch

Bernard Baruch was a distinguished financier, born on August 19, 1870, and died on June 20, 1965. He is renowned for his remarkable achievements in Wall Street and his profound influence on public policy. more

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“The idea that a bell rings to signal when investors should get into or out of the stock market is simply not credible. After nearly fifty years in this business, I do not know of anybody who has done it successfully and consistently. I don't even know anybody who knows anybody who has done it successfully and consistently. Yet market timing appears to be increasingly embraced by mutual fund investors and the professional managers of fund portfolios alike.”

KnowsShouldYearsIdeasDoneInvestingRingsManagersFiftyFundMutualInvestorsBellsTimingConsistentlySignalsCrediblePortfoliosMutual FundMarket Timing
Book:Common Sense on Mutual Funds
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“We are convinced that the intelligent investor can derive satisfactory results from pricing of either type (market timing or fundamental analysis via price). We are equally sure that if he places his emphasis on timing, in the sense of forecasting, he will end up as a speculator and with a speculator's financial results." And "The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.”

IfsEndsLyingInterestResultsSecurityTypeIntelligentFundamentalsInvestingFinancialConvincedPrimariesAnalysisInvestorsTimingEmphasisSuitableFluctuationSpeculatorsPricingForecastingMarket TimingFinancial Results
Author:Benjamin Graham
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“One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.”

ShouldTermCompanyShareActivityPicksPraiseInvestingCustomersIronyEnterprisePocketsInvestorsEmphasisBrokersLiquidityTurnoverMarketability
Author:Warren Buffett
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“In a world in which most investors appear interested in figuring out how to make money every second and chase the idea du jour, there's also something validating about the message that it's okay to do nothing and wait for opportunities to present themselves or to pay off. That's lonely and contrary a lot of the time, but reminding yourself that that's what it takes is quite helpful.”

WorldIdeasOpportunityWaitingPayMessagesLonelyOkayInvestingContraryMaking MoneyHelpfulInvestorsRemindingEvery SecondReminding Yourself
Author:Seth Klarman
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