“Ain't only three things to gambling: knowing the 60-40 end of the proposition, money management, and knowing yourself.” EndsThreeKnowingManagementInvestingGamblingPropositionsKnow YourselfThree ThingsMoney Management Author:Puggy Pearson
“Knowing the importance of luck, you should be particularly suspicious when highly consistent patterns emerge from the comparison of successful and less successful firms. In the presence of randomness, regular patterns can only be mirages.” ShouldKnowingSuccessfulImportanceLuckInvestingPatternsFirmConsistentComparisonSuspiciousRandomnessMirages Book:Thinking, Fast and Slow Source: Thinking, Fast and Slow
“Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.” LongKnowingRiskInvestingWideIgnorantInvestorsNot KnowingBuffetsDiversification Author:Warren Buffett
“Ask yourself whether you have earned the right to have an opinion. Opinions are easy to produce, so bad ones abound. Knowing that you don't know something is nearly as valuable as knowing it. The worst situation is thinking you know something when you don't.” ThinkingKnowsLifeAsksEasyGrowthSituationOpinionKnowingWorstProducePersonal GrowthInvestingValuableWorst Situation Author:Ray Dalio
“The recent trading environment has felt something like walking into a place and having a sense that something is wrong and dangerous but not knowing exactly what will happen or when. “QE Infinity” has so distorted the prices of stocks and bonds that nobody can possibly determine what the investing landscape would look like, or what the condition of the economy and financial system would be, in the absence of Fed bond-buying.” LooksHappensWould BeFeltEconomyKnowingEnvironmentConditionsDangerousWalkingInvestingFinancialDetermineAbsenceLandscapeBuyingFedsInfinityNot KnowingTradingFinancial System Author:Paul Singer
“Investing is the intersection of economics and psychology. The analysis is actually the easy part. The economics, the valuation of the business isn't that hard. The psychology - how much do you buy, do you buy it at this price, do you wait for a lower price, what do you do when it looks like the world might end - those things are harder. Knowing whether you stand there, buy more, or whether something has legitimately gone wrong and you need to sell, those are harder things. That you learn with experience, by having the right psychological makeup.” WorldNeedsLooksEndsHardMightEasyWaitingGoneKnowingPsychologyEconomicsHarderSellsInvestingPsychologicalAnalysisMakeupIntersectionsValuation Author:Seth Klarman
“It is important to remember that value investing is not a perfect science. It is an, with an ongoing need for judgment, refinement, patience, and reflection. It requires endless curiosity, the relentless pursuit of additional information, the raising of questions, and the search for answers. It necessitates dealing with imperfect information - knowing you will never know everything and that that must not prevent you from acting. It requires a precarious balance between conviction, steadfastness in the face of adversity, and doubt - keeping in mind the possibility that you could be wrong.” KnowsNeedsMindImportantRememberFacesValuesAnswersPerfectActingKnowingDoubtInformationPossibilityBalanceJudgmentReflectionAdversityCuriosityInvestingConvictionPursuitEndlessImperfectOngoingRelentlessRefinementPrecariousSteadfastnessFacing AdversityRelentless Pursuit Author:Seth Klarman
“Knowing nothing about investing might be a benefit. You won't have to unlearn many popular beliefs propagated by Wall Street and the media that aren't true.” MightBeliefKnowingStreetsMediaWallBenefitsInvestingPassiveUnlearnKnowing Nothing Book:The Bogleheads' Guide to Investing Source: The Bogleheads' Guide to Investing