“Investors should start with a view of skepticism. They should become intellectual investors rather than emotional investors. They should be careful, and they should be skeptical.” ShouldViewsEmotionalIntellectualCarefulInvestorsBe CarefulSkepticismSkeptical Author:Arthur Levitt Jr
“In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.” ForeverEmotionalBlindInvestingFinancialPracticalsInvestorsTimingImpossibilityForesightHindsightFinancial MarketsMarket Timing Book:The Intelligent Investor: A Book of Practical Counsel Source: The Intelligent Investor: A Book of Practical Counsel
“The key to investment success is emotional discipline. Making money has nothing to do with intelligence. To be a successful investor, you have to be able to admit mistakes. I trained a guy to trade who had a 188 IQ. He was on "Jeopardy" once and answered every question correctly. That same person never made a dime in trading during 5 years!” YearsPersonsMadeAbleGuyMistakeSuccessfulEmotionalKeysDisciplineTradeInvestmentMaking MoneyInvestorsTradingDimesJeopardyInvestment Success Author:Victor Sperandeo
“The market gives you the opportunity to arbitrage what the emotional investor will pay or sell at versus the fundamental value of a company, but you've got to pull the trigger promptly without hesitating. We've disciplined ourselves mentally and prepared ourselves in terms of information, as well as relationships with brokers, to do that.” GivingWellsValuesOpportunityTermPayCompanyInformationEmotionalFundamentalsSellsPreparedInvestorsVersusTriggersBrokersArbitrage Author:Richard Chandler
“The hardest thing over the years has been having the courage to go against the dominant wisdom of the time to have a view that is at variance with the present consensus and bet that view. The hard part is that the investor must measure himself not by his own perceptions of his performance, but by the objective measure of the market. The market has its own reality. In an immediate emotional sense the market is always right so if you take a variant point of view you will always be bombarded for some time by conventional wisdom as expressed by the market.” IfsYearsHas BeensHardRealityViewsEmotionalPerceptionPerformancesPoint Of ViewHardestObjectivesInvestorsConventionalDominantHardest ThingConsensusConventional WisdomVarianceBombarded Author:Michael Steinhardt