48 مقولة خالدة عن الاستثمار والحياة
"The market can stay irrational longer than the client can stay patient."
— Jeremy Grantham
"Every great bubble in history has broken. There are no exceptions."
— Jeremy Grantham
"Profit margins are the most mean-reverting series in finance."
— Jeremy Grantham
"Asset class returns revert to the mean. High valuations predict low future returns; low valuations predict high returns."اقرأ التحليل الكامل →
"Bubbles are identifiable before they burst. Watch for valuations 2+ standard deviations above historical norms."اقرأ التحليل الكامل →
"Being early is the same as being wrong. But in the long run, fundamentals always win."اقرأ التحليل الكامل →
"Most returns come from asset allocation, not security selection. Get the big picture right first."اقرأ التحليل الكامل →
"Seven-year forecasts based on valuations are remarkably accurate. Short-term is noise."اقرأ التحليل الكامل →
"The biggest risk for professional investors is career risk, not investment risk. This distorts behavior."اقرأ التحليل الكامل →
"High-quality stocks with strong balance sheets outperform over time with less risk."اقرأ التحليل الكامل →
"Emerging markets often offer better value than developed markets. Dont ignore them."اقرأ التحليل الكامل →
"Resource constraints are real and will impact markets. Think about long-term sustainability."اقرأ التحليل الكامل →
"Markets are driven by psychology in the short term. Ignore the noise and focus on fundamentals."اقرأ التحليل الكامل →
"Never overpay for a security, no matter how exciting the story. The price you pay determines your return. Discipline in valuation is the foundation of investment success."اقرأ التحليل الكامل →
"Invest in businesses with durable competitive advantages, strong cash flows, and management integrity. Quality businesses compound wealth over time and reduce downside risk."اقرأ التحليل الكامل →
"Before investing, identify the moat — the sustainable competitive advantage that protects the business from competitors. No moat means no long-term edge."اقرأ التحليل الكامل →
"The most successful investors stay within their circle of competence. Know what you understand well and resist the temptation to venture outside it."اقرأ التحليل الكامل →
"Surface-level knowledge is dangerous in investing. Develop deep expertise in your areas of focus. True understanding means knowing what could go wrong."اقرأ التحليل الكامل →
"Expand your circle of competence gradually over time. Each new area of expertise adds potential opportunities, but only if mastered thoroughly."اقرأ التحليل الكامل →
"Markets are driven by fear and greed. The disciplined investor exploits these emotions rather than being controlled by them. Emotional control is the key competitive advantage."اقرأ التحليل الكامل →
"Before considering how much you can make, consider how much you can lose. Risk management is not about avoiding risk entirely, but about understanding and controlling it."اقرأ التحليل الكامل →
"In a world obsessed with quarterly results, patience is the ultimate competitive advantage. Great investments often take years to play out fully."اقرأ التحليل الكامل →
"The cardinal rule of investing: buy only when the price is significantly below your conservative estimate of intrinsic value. This builds in protection against error."اقرأ التحليل الكامل →
"The stock market is a no-called-strike game. You don't have to swing at every pitch. Wait for the fat pitch — the opportunity that offers exceptional risk-reward."اقرأ التحليل الكامل →
"Never invest in anything you don't fully understand. Thorough research is the foundation of every sound investment decision."اقرأ التحليل الكامل →
"Have clear, pre-defined sell criteria. Sell when: your thesis is broken, valuation is fully realized, or a significantly better opportunity appears."اقرأ التحليل الكامل →
"Regularly review whether your original reasons for owning a stock still hold. If the facts change, change your mind. Holding a broken thesis is the costliest mistake."اقرأ التحليل الكامل →
"After every sell, review the outcome. Did you sell too early, too late, or at the right time? Post-mortems on sell decisions improve future judgment."اقرأ التحليل الكامل →
"Draw insights from multiple disciplines — psychology, history, mathematics, and science — to build a lattice of mental models for better investment decisions."اقرأ التحليل الكامل →
"Think in probabilities, not certainties. Every investment has a range of possible outcomes. Weight your decisions by the expected value of each scenario."اقرأ التحليل الكامل →
"Instead of asking how to succeed, ask how to avoid failure. Inverting problems often reveals insights that forward thinking misses."اقرأ التحليل الكامل →
"A clear investment philosophy provides an anchor in turbulent times. Know what you believe, why you believe it, and stick to it when tested."اقرأ التحليل الكامل →
"Focus on process, not outcomes. A good process can produce bad outcomes in the short run, but will generate superior results over time."اقرأ التحليل الكامل →
"Develop your own investment philosophy through study and experience. Copying others without understanding why leads to confusion when strategies are tested."اقرأ التحليل الكامل →
"Evaluate management by their actions, not their words. Look for a track record of capital allocation, shareholder communication, and aligned incentives."اقرأ التحليل الكامل →
"Understand the industry structure before evaluating any company. Industry economics often matter more than company-specific factors in determining returns."اقرأ التحليل الكامل →
"The most important skill for a CEO is capital allocation. Evaluate how management deploys capital — do they create or destroy value with their decisions?"اقرأ التحليل الكامل →
"The principles that make you a great investor — patience, discipline, humility, and continuous learning — are the same principles that lead to a great life."اقرأ التحليل الكامل →
"The best investors never stop learning. Read voraciously, study history, learn from mistakes, and stay curious about the world. Knowledge compounds like interest."اقرأ التحليل الكامل →
"Reputation takes a lifetime to build and moments to destroy. In investing and in life, integrity is the most valuable asset you can possess."اقرأ التحليل الكامل →
"The ideal investment is a high-quality business purchased at a fair price. Quality compounds wealth; fair prices protect capital."اقرأ التحليل الكامل →
"Never invest in a business you cannot explain in simple terms. If you can't describe why a company is valuable, you don't understand it well enough to own it."اقرأ التحليل الكامل →
"The greatest enemy of the investor is himself. Fear, greed, regret, and pride cause more losses than any economic event. Master your emotions to master the market."اقرأ التحليل الكامل →
"Know the common behavioral biases that trap investors: anchoring, confirmation bias, loss aversion, and herding. Awareness is the first step to prevention."اقرأ التحليل الكامل →
"Think independently. The crowd is often wrong at extremes, and following popular opinion is a reliable path to mediocre returns. Form your own informed views."اقرأ التحليل الكامل →
"The market exists to serve you, not to guide you. Use market prices to your advantage — buy when the market offers bargains and sell when it offers premiums."اقرأ التحليل الكامل →
"Markets move in cycles driven by human emotion. Understanding where you are in the cycle helps you prepare for what comes next and position accordingly."اقرأ التحليل الكامل →
"In the short run, the market is a voting machine; in the long run, it's a weighing machine. Prices can diverge wildly from value, but eventually converge."اقرأ التحليل الكامل →
"A systematic approach to investing removes emotion and ensures consistency. Document your process, follow your rules, and review regularly."اقرأ التحليل الكامل →
"Use an investment checklist to ensure you don't skip critical steps. Aviation-style checklists prevent costly oversights in investment analysis."اقرأ التحليل الكامل →
"Review every investment decision — wins and losses — to improve your system. The best investors treat investing as a craft that can always be refined."اقرأ التحليل الكامل →
"The market can stay irrational longer than the client can stay patient."
لقد جمعنا 48 مقولة موثقة لـ Jeremy Grantham، كل منها مع إسناد المصدر وتحليل معمّق.
Jeremy Grantham frequently discusses value investing, risk management, and long-term thinking.