Kindle Notes & Highlights
Read between
December 9, 2018 - January 17, 2019
The idea that forecasting earnings to two decimal places over the next five years has any merit is surely laughable.
‘It is impossible to produce a superior performance unless you do something different from the majority.’
‘In theory there is no difference between theory and practice. In practice there is.’
‘Price is what you pay, value is what you get’.
‘Holding cash is uncomfortable, but not as uncomfortable as doing something stupid.’
‘I would rather lose half my clients than lose half my client’s money.’
‘Investing should be dull. It shouldn’t be exciting. Investing should be more like watching paint dry or watching grass grow.’
but volatility doesn’t equal risk.
Are we traders, or are we really investors?
