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Reflections on the Ten Attributes of Great Investors

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"Warren Buffett never tried to make the most money. He never tried to get rich quickly. He tried to get rich slow, and I feel like that's what value investing is; it's a philosophy that stays away from the hot flashy trendy investments and focuses more on never losing big."

Das Narayandas • Quotes from Seth Klarman Interview

And let’s say he still went on to earn the extraordinary annual investment returns he’s been able to generate (22% annually), but quit investing and retired at age 60 to play golf and spend time with his grandkids. What would a rough estimate of his net worth be today? Not $84.5 billion. $11.9 million. 99.9% less than his actual net worth.

Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness

If you are managing your bankroll properly, you’re going to have a much easier time enjoying angel investing. As we’ve outlined in this book, I believe that angel investing 5 or 10 percent of your net worth is a worthwhile pursuit, perhaps even 20 percent if you’re a younger person with a steady income stream. The key is to deploy it intelligently.

Jason Calacanis • Angel: How to Invest in Technology Startups—Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000

The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The Intelligent Investor is a realist who sells to optimists and buys from pessimists

Benjamin Graham • The Intelligent Investor Rev Ed.: The Definitive Book on Value Investing

view this account with extreme skepticism because most companies tend to overpay for their targets, which means the value of goodwill that shows up on the balance sheet is very often far more than the asset is actually worth.

Pat Dorsey • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market

The four fundamental principles of value investing as created by Ben Graham are as follows: 1. Treat a share of stock as a proportional ownership of the business. 2. Buy at a significant discount to intrinsic value to create a margin of safety. 3. Make a bipolar Mr. Market your servant rather than your master. 4. Be rational, objective, and dispass

Tren Griffin • Charlie Munger

You also have to have the knowledge to enable you to make a very general estimate aboutthe value of the underlying businesses. But you do not cut it close. That is what Ben Grahammeant by having a margin of safety. You don’t try and buy businesses worth $83 million for$80 million. You leave yourself an enormous margin. When you build a bridge, you ... See more

Warren Buffett • The Superinvestors of Graham-and-Doddsville

Rule 3: A rational (and risk-averse) investor should pay a higher price for a share, other things equal, the less risky the company’s stock.