Good management can overcome a mediocre business situation, and bad management can ruin a great business. Judging manage...
Understanding whether a business has a sustainable competitive advantage is fundamental to judging its long-term prospec...
Understanding the dynamics of the industry is as important as understanding the company. Some industries are simply more...
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pes...
If you search worldwide, you will find more bargains and better bargains than by studying only one nation. The best valu...
The best opportunities are found in the most neglected, overlooked, and unloved parts of the market. That's where the re...
The time to buy the best quality stocks is when they are temporarily depressed. Quality always recovers, but you must ha...
Companies with strong balance sheets can survive adversity and emerge stronger. Financial strength is the foundation of ...
Look for companies whose management has a proven track record of creating shareholder value. Past performance of managem...
Before making any investment, study the situation thoroughly. Know everything about the company, the industry, and the c...
Expand your knowledge beyond your home country. The investor who studies only domestic markets is like the farmer who pl...
Never invest in a company you can't explain simply. If you don't understand it, you can't evaluate its prospects.
It is impossible to produce superior performance unless you do something different from the majority. To buy when others...
The only investors who shouldn't diversify are those who are right 100% of the time. Diversify across nations and across...
For all long-term investors, there is only one objective: maximum real total return after taxes. Never forget the erosio...
If you buy the same securities everyone else is buying, you will have the same results. Patience to hold undervalued sto...
I never ask if the market is going to go up or down because I don't know. I buy bargains and hold for an average of five...
The best time to invest is when you have money. Attempting to time the market is a losing strategy over the long run.
People who buy for price trends, technical charts, or momentum are speculating. An investor buys what has good fundament...
The best bargains come during periods of crisis when fear drives prices far below intrinsic value. Crisis creates opport...
To find the best bargains, focus on the most unpopular countries and the most unpopular industries within those countrie...
The only reason to sell a stock is when you find a much better bargain to replace it. Always upgrade your portfolio towa...
Regularly review your investments. Markets change, companies change, and values change. What was a bargain may no longer...
When an investment's price rises far above its intrinsic value, sell it. The discipline to sell into euphoria is as impo...
To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude an...
An investor who has all the answers doesn't even understand the questions. Humility is the foundation of good judgment i...
A thankful heart leads to greater prosperity. Begin each day with gratitude and prayer, and your judgment will be cleare...
An investor who concentrates on just one market is like a person who lives in one room of a mansion. Look everywhere for...
How wonderful it would be if we could help people develop the same type of devotion for helping others as they have for ...
Keep an open mind. The most important trait for an investor is not intellect but temperament. Be flexible and willing to...
Explore core insights from different masters across investment topics