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Wisdom From People Who've Been There, Done That

Wills · 1024 · 129300

Wills

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Wills

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"People behave in extreme ways in markets and over time that's very good for people who keep their heads."

~Warren Buffett


Wills

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"For thirteen years I managed Fidelity Magellan Fund, those were thirteen amazing years. Nine times the market declined by 10% or more and I was very consistent, all nine times the Magellan Fund fell 10% or more."


~Peter Lynch


Wills

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"If you want to double your money quickly and safely, fold it in half and put it in your wallet any other way you’re simply gambling. A good stock can take 2,3 or even 5 years before it really pays off.... My best stock had been my 5th, 6th, 7th year...."


~Peter Lynch
« Last Edit: Mar 07, 2015, 03:46 PM by Wills »


jmces

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Wills

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Ray Dalio the 30th richest man in America.

Here's a video of Ray Dalio explaining how the whole economy work. Don't worry its not a boring video.

https://m.youtube.com/watch?v=PHe0bXAIuk0

« Last Edit: Apr 22, 2016, 12:30 PM by Wills »


Wills

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"You just had to have the courage of your convictions and the willingness to act when EVERYONE ELSE was terrified and paralyzed. The lesson of following LOGIC rather than EMOTION is obvious, but some people can follow it and some can’t."

~ Warren Buffett


Wills

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"When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients. Both large and small investors should stick with low-cost index funds." (2016)

~ Warren Buffett


Wills

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"If you buy something like bitcoin or some cryptocurrency, you don't have anything that is producing anything,"

"You're just hoping the next guy pays more. And you only feel you'll find the next guy to pay more if he thinks he's going to find someone that's going to pay more.”

"You aren't investing when you do that, you're speculating."



"Put together a portfolio of companies whose aggregate earnings march forward over the years, and so also will the portfolio's market value”

“If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes."




~ Warren Buffett


Wills

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“If you ban trading in farms, you could still buy farms, and have a perfectly decent investment,"

"f you ban trading in ... bitcoin, which nobody knows exactly what it is, people would say, 'Well why in the world would I buy it?'"


~ Warren Buffett


Wills

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Importance of maths? Why does math reflect reality?

Warren Buffet:

It’s just the way it is. If you want to understand science, you have to understand math. In business, if you’re enumerate, you’re going to be a klutz. The good thing about business is that you don’t have to know any higher math.

It may be an advantage not to know it.

Charlie Munger:

 Yes, it is. If you know it, you feel the need to use it.


Wills

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How do you calculate intrinsic value?

Warren Buffett: Intrinsic value is terribly important but very fuzzy. We try to work with businesses where we have fairly high probability of knowing what the future will hold. If you own a gas pipeline, not much is going to go wrong. Maybe a competitor enters forcing you to cut prices, but intrinsic value hasn't gone down if you already factored this in. We looked at a pipeline recently that we think will come under pressure from other ways of delivering gas [to the area the pipeline serves]. We look at this differently from another pipeline that has the lowest costs [and does not face threats from alternative pipelines]. If you calculate intrinsic value properly, you factor in things like declining prices.

When we buy business, we try to look out and estimate the cash it will generate and compare it to the purchase price. We have to feel pretty good about our projections and then have a purchase price that makes sense. Over time, we've had more pleasant surprises than we would have expected.

I've never seen an investment banker's book in which future earnings are projected to go down. But many businesses' earnings go down. We made this mistake with Dexter shoes -- it was earning $40 million pretax and I projected this would continue, and I couldn't have been more wrong.

20% of Fortune 500 companies will be earning significant less in five years, but I don't know which 20%. If you can't come up with reasonable estimates for that, then you move on.



NiganKhan

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what's your opinion on what's happening to DD?

My officemate just got a hell richer because of this stock. he earned 200k on the 1st wave then @ 4 pesos he bought like 500k pesos shares and now it's more than double.

I've always been proud of my stock picks as i gain good proceeds from them. My YoY gain is roughly 40+% but when i think about this stock, it just makes me sad. Some people made much more in a few days than i did in a year. damn! i can't help but feel envious, jealous, angry, frustrated, etc.

if you're wondering why i feel this, it's because i'm a competitive person. i always want to be better than others. haha! but right now i feel like an idiot. i'm the one giving him advises before regarding stock picks and now i just feel awful. he's made a lot more money than i did in a long time. sigh!

anyway, i just tell myself that it's a marathon and not a sprint. there's still plenty of opportunities out there. how do you guys handle situations like this?
« Last Edit: Oct 03, 2019, 05:12 PM by FutureGizmo »


 


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