1945 – 1980 CE
Rise of value investing, mutual funds, and modern portfolio theory.
Invert, always invert.
— Charlie Munger
"Invert, always invert."
Time is your friend; impulse is your enemy.
— John Bogle
"Time is your friend; impulse is your enemy."
The stock market is a giant distraction to the business of investing.
"The stock market is a giant distraction to the business of investing."
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..."
Don't fall in love with stocks. Keep your emotions out of it.
— Roy Neuberger
"Don't fall in love with stocks. Keep your emotions out of it."
The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best …
— John Templeton
"The time of maximum pessimism is the best time to buy, and the time of maximum o..."
It is remarkable how much long-term advantage people like us have gotten by trying to be consistentl…
"It is remarkable how much long-term advantage people like us have gotten by tryi..."
Life is like reading a novel or running a marathon. It's not…
— Edward O. Thorp
"Life is like reading a novel or running a marathon. It's not so much about reach..."
Understanding and dealing correctly with the trade-off between risk and return is a fundamental, but…
"Understanding and dealing correctly with the trade-off between risk and return i..."
Rule No. 1: Never lose money. Rule No. 2: Never forget Rule …
"Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1."
"The growth stock theory of investing requires patience, but is less stressful th..."
Our favorite holding period is forever.
"Our favorite holding period is forever."
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