Capital Quotes

“At least 80 percent of Capital’s most important decisions have been ‘No’ decisions: active, carefully thought-through decisions not to take a specific action. That’s why one of the hallmarks of Capital is how seldom it makes major mistakes.”
― Charles D. Ellis, Capital: The Story of Long-Term Investment Excellence

“Emerging markets investing, where Capital is far and away the world leader1 came very close to never happening. “David Fisher is the one who said, ‘This is where the future lies. Let’s go for it!’” explains Bob Kirby.”
― Charles D. Ellis, Capital: The Story of Long-Term Investment Excellence

“If investing is all about creativity and making unusual, unconventional, and even unpopular decisions, great investment decisions are best made by individuals taking direct responsibility for the results of their own acts.”
― Charles D. Ellis, Capital: The Story of Long-Term Investment Excellence

“Don’t pay more per share for a company’s stock than you’d be willing to pay if you were buying the whole company.”
― Charles D. Ellis, Capital: The Story of Long-Term Investment Excellence

“If making mistakes is the inevitable cost of striving, correcting mistakes—and learning how to avoid repeating them—is the best measure of a learning organization that will continue to get better and better.”
― Charles D. Ellis, Capital: The Story of Long-Term Investment Excellence

“successful firms do flourish by holding fast to fundamental values: sticking to the right path; taking the long-term view; and insisting always on quality and excellence.”
― Charles D. Ellis, Capital: The Story of Long-Term Investment Excellence