All Quotes

As in most subjects relating to money management, there's a wide diversity of opinion on portfolio concentration versus diversification. ”

I have long believed the corporate world is plagued by poor capital allocation decisions. ”

I'd say the general outline of a sound investment approach is, first of all, you have to decide are you going to try to be an investor yourself? The answer for most people is probably they shouldn't try. You should put your money in index funds and not try to be a stock picker. ”

Shorting saved my butt in 2008... Shorting kept me in the game. It generates cash when the market's crashing. And that's what you want when the market's crashing - cash. ”

The relative illiquidity of small-company shares - which often contributes to their being undervalued - also increases their volatility. ”

My portfolio consists of many companies I find fundamentally undervalued in which I expect activism to play a role in the value being realised. ”

Pence is far too conservative for me, but by all accounts, he's an intelligent, experienced, decent man with no skeletons in his closet. ”

I love and celebrate good teachers, and it's critical that we do more to identify them and keep them happy and motivated. ”

When reviewing one's portfolio, it is important to be aware of common mental mistakes that may lead to bad decisions. The most powerful is commitment bias, which, as manifested in investing, is the tendency to fall in love with one's stocks. ”

My experience is that very few people have what it takes to be a successful investor, as I discussed in The Arrogance of Stock Picking. ”