Echoes

The individual investor should act consistently as an investor and not as a speculator.

All the real money in investment will have to be made—as most of it has been in the past— not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.

Investment is most intelligent when it is most businesslike.

In the short run, the market is a voting machine, but in the long run, it is a weighing machine.

Basically, price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the stock market and pays attention to his dividend returns and to the operating results of his companies.

He that can have patience can have what he will.

Patience is bitter, but its fruit is sweet.

He plants trees whose shade another age will enjoy.

An investment in knowledge pays the best interest.

Time is the friend of the wonderful business, the enemy of the mediocre.

Our patience will achieve more than our force.

Invest in the millennium. Plant sequoias. Say that your main crop is the forest that you did not plant, that you will not live to harvest.

It does not matter how slowly you go as long as you do not stop.

Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same. Thus the important and difficult part of sound investment, which hinges upon the investor's own temperament and attitude, is not much affected by the passing years.

Slow and steady wins the race.

Adopt the pace of nature: her secret is patience.

If you would be wealthy, think of saving as well as getting.

It is the time you have wasted for your rose that makes your rose so important.

I am a slow walker, but I never walk back.

...if you are nothing but profit-conscious, you cannot see the opportunities ahead.

Let the future tell the truth and evaluate each one according to his work and accomplishments. The present is theirs; the future, for which I really worked, is mine.

If you're going through hell, keep going.

The fashion of this world passeth away and I would fain occupy myself with the things that are abiding.

Rather go to bed supperless than rise in debt.

We can only see a short distance ahead, but we can see plenty there that needs to be done.