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Peter Lynch, one of the few fund managers who made above-market returns and then got out before the market leveled him, wrote in his book One Up on Wall Street that the amateur investor has “numerous built-in advantages, which, if exploited, should result in outperforming the market and the experts.” In other words, you should be doing this yoursel
... See morePhil Town • Rule #1: The Simple Strategy for Getting Rich--in Only 15 Minutes a Week!
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear
... See moreEdwin Lefevre • Reminiscences of a Stock Operator
He is both well liked and very intelligent. He is also very rich. I consider his annual “Chairman’s Letter” (in the Berkshire annual report) to be indispensable reading for anyone wanting to do well in business.
Rabbi Daniel Lapin • Thou Shall Prosper: Ten Commandments for Making Money
there is the Wall Street fool, who thinks he must trade all the time. No man can always have adequate reasons for buying or selling stocks daily—or sufficient knowledge to make his play an intelligent play.
Edwin Lefevre • Reminiscences of a Stock Operator
Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study the general conditions and not tips or special factors affecting individual stocks. Then get out of all your
... See moreEdwin Lefevre • Reminiscences of a Stock Operator
"Beware of overconcern for money, or position, or glory. Someday you will meet a man who cares for none of these things. Then you will know how poor you are."
—Rudyard Kipling
The test of a business man is not whether he can make money in one or two boom years, or can make money through the luck of getting into the field first, but whether in a highly competitive field, without having any initial advantage over his competitors, he can outdistance them in a perfect honourable way and keep the respect of himself and of his
... See moreI never buy a stock even in a bull market, if it doesn’t act as it ought to act in that kind of market. I have sometimes bought a stock during an undoubted bull market and found out that other stocks in the same group were not acting bullishly and I have sold out my stock. Why? Experience tells me that it is not wise to buck against what I may call
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