1945 – 1980 CE
Rise of value investing, mutual funds, and modern portfolio theory.
"The growth stock theory of investing requires patience, but is less stressful th..."
The most important single factor in shaping security markets is public psychology.
— Gerald Loeb
"The most important single factor in shaping security markets is public psycholog..."
The stock market is a device for transferring money from the…
— Warren Buffett
"The stock market is a device for transferring money from the impatient to the pa..."
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.
— John Templeton
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and ..."
Our favorite holding period is forever.
"Our favorite holding period is forever."
The stock market is a giant distraction to the business of investing.
— John Bogle
"The stock market is a giant distraction to the business of investing."
Take a simple idea and take it seriously.
— Charlie Munger
"Take a simple idea and take it seriously."
The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.
"The miracle of compounding returns is overwhelmed by the tyranny of compounding ..."
Risk comes from not knowing what you're doing.
"Risk comes from not knowing what you're doing."
The four most dangerous words in investing are: 'This time i…
"The four most dangerous words in investing are: 'This time it's different.'"
Recognize your mistakes early and take action immediately.
— Roy Neuberger
"Recognize your mistakes early and take action immediately."
Don't fall in love with stocks. Keep your emotions out of it.
"Don't fall in love with stocks. Keep your emotions out of it."
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