“There are a few investment managers, of course, who are very good - though in the short run, it's difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors - large and small - should instead read Jack Bogle's The Little Book of Common Sense Investing.” ShouldLittlesBookRunningSongCoursesDifficultCommonRecordsTalentReturnLuckInvestmentInvestingVery GoodDetermineDuesCoreCommon SenseManagersInvestorsCompetenceFeesSirensAdvisorsSalesmanshipSiren Song Author:Warren Buffett
“It is difficult to systematically beat the market. But it is not difficult to systematically throw money down a rat hole by generating commissions and other costs.” DifficultCostBeatsInvestingHolesRats Author:Michael Jensen
“Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.” LongTodayDifficultTermExpectationsInvestmentInvestingGenuineLong Term Author:John Maynard Keynes
“Sell is tough. It's the worst, it's the most difficult thing of all.” ValuesDifficultWorstToughSellsInvestingDifficult Things Author:Walter Schloss
“Making a decision to sell is the most difficult thing we do.” ValuesDifficultDecisionSellsInvestingDifficult Things Author:Walter Schloss
“If you can stare hard at your problems, they almost always shrink or disappear, because you almost always find a better way of dealing with them than if you don't face them head on. The more difficult the problem, the more important it is that you stare at it and deal with it.” IfsWayLifeImportantHardProblemFacesDifficultGrowthDealsPersonal GrowthInvestingDisappearStaringShrinksBetter Ways Author:Ray Dalio
“I believe that for the most part, achieving success - whatever that is for you - is mostly a matter of personal choice and that, initially, making the right choices can be difficult.” LifeBelieveMatterChoicesI BelieveDifficultGrowthAchievePersonal GrowthInvestingRight ChoicesAchieving SuccessPersonal Choice Author:Ray Dalio
“Sometimes we forge our own principles and sometimes we accept others' principles, or holistic packages of principles, such as religion and legal systems. While it isn't necessarily a bad thing to use others' principles - it's difficult to come up with your own, and often much wisdom has gone into those already created - adopting pre-packaged principles without much thought exposes you to the risk of inconsistency with your true values.” LifeSometimesUseValuesDifficultGrowthAcceptingPrinciplesGoneRiskPersonal GrowthInvestingCome UpBad ThingsPackagesHolisticAdoptingInconsistencyLegal SystemTrue Value Author:Ray Dalio
“It is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.” LifeLooksLawDifficultGrowthBenefitsGainsConnectionsPersonal GrowthInvestingWork OutLaws Of NatureDifficult Things Author:Ray Dalio