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Richard Oldfield
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“One should invest in equities, which are volatile, only with a long-term perspective, and in the most volatile of equities with an especially long-term perspective – 5 years or more – and only with money which one can be sure of not needing in the next few years.”
― Simple But Not Easy: An Autobiographical and Biased Book About Investing
― Simple But Not Easy: An Autobiographical and Biased Book About Investing
“different meanings of safety to different investors. For someone needing a lump of money in a year’s time, the only safe investment is a cash deposit or a short-term government bond. For someone with no imminent need of the money and a desire to accumulate capital and increase purchasing power in the long-term, it may be safer to invest in equities – volatile but with the historic and likely future characteristic of a high return after inflation – than to put money on deposit with the risk that over the years the real value of the investment will be eroded by inflation.”
― Simple But Not Easy: An Autobiographical and Biased Book About Investing
― Simple But Not Easy: An Autobiographical and Biased Book About Investing
“A share looks cheap; you buy it; it goes down and looks cheaper; you buy more; it goes down and down, getting cheaper and cheaper, until it reaches what practitioners call euphemistically the ultimate cheapness – zero. This is what is generally called the value trap.”
― Simple But Not Easy: An Autobiographical and Biased Book About Investing
― Simple But Not Easy: An Autobiographical and Biased Book About Investing
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